Gentiva Health Rejects Acquisition Proposal From Kindred Healthcare

(RTTNews) - Gentiva Health Services, Inc. (GTIV) confirmed that its Board has rejected an unsolicited, non-binding acquisition proposal from Kindred Healthcare, Inc. The Board concluded that the Kindred proposal significantly undervalues Gentiva.

Rod Windley, Executive Chairman of Gentiva, said: "Our Board and our highly capable management team are confident that we can create significantly greater value for our shareholders by continuing to execute our One Gentiva initiative, along with the balance of our strategic plan. Our focus is on Gentiva shareholders, who would be denied the value they deserve and can expect to receive as we capitalize on our strong positioning in Home Healthcare, Hospice and Community Care."

Gentiva Health Services was offered a combination of $7.00 per share in cash and $7.00 of Kindred common stock, under the proposal.