Kindred Up 6%; Susquehanna Sees 'Cleaner Path' For Gentiva Bid
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
Date | Firm | Action | From | To |
---|---|---|---|---|
Nov 2017 | Stifel Nicolaus | Upgrades | Sell | Hold |
Sep 2017 | Bank of America | Maintains | Underperform | |
Aug 2017 | Deutsche Bank | Maintains | Buy |
View More Analyst Ratings for KND
View the Latest Analyst Ratings
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted-In: Analyst Color M&A News Hot Intraday Update Analyst Ratings