Market Overview

Kindred Up 6%; Susquehanna Sees 'Cleaner Path' For Gentiva Bid

Share:
Related KND
Earnings Scheduled For August 3, 2017
Mid-Afternoon Market Update: Crude Oil Up 1.8%; Triumph Group Shares Drop After Weak Earnings Report
Related GTIV
Top 4 Small-Cap Stocks In The Home Health Care Industry With The Highest Gross Margin
Benzinga's M&A Chatter for Thursday October 9, 2014

Kindred Healthcare (NYSE: KND) gained nearly six percent Tuesday on speculation that its hopes to acquire Gentiva Health Services (NASDAQ: GTIV) are getting more realistic.

Gentiva has two offers of $17.25 on the table: one from Kindred and one from an unnamed bidder widely believed to be Formation Capital, an investment management firm that owns Genesis HealthCare.

Genesis agreed Monday to merge with Skilled Healthcare (NYSE: SKH) in a stock swap. Susquehanna analyst Chris Rigg said it's unlikely that Formation Capital can pursue two major and complex deals at the same time.

Rigg said the Genesis deal "creates a cleaner path" for Kindred's bid on Gentiva.

Gentiva fell 2.5 percent Tuesday to 18.35 per share, while Kindred traded up 5.6 percent to $21.31.

Latest Ratings for KND

DateFirmActionFromTo
Aug 2017Deutsche BankMaintainsBuy
Nov 2016RBC CapitalDowngradesOutperformSector Perform
Nov 2016Stifel NicolausDowngradesHoldSell

View More Analyst Ratings for KND
View the Latest Analyst Ratings

Posted-In: Analyst Color News M&A Hot Intraday Update Analyst Ratings

 

Related Articles (GTIV + KND)

View Comments and Join the Discussion!