Long-term care giant Kindred Health-care is still pursuing the hostile takeover of Gen-tiva Healthcare Services. Louisville-based Kindred has upped its tender offer to $16 per share, increased from $14.50 last time. Kindred has made four offers so far.
Atlanta-based Gentiva’s Board of Directors will review the offer, than make a recommendation to shareholders, it notes in a release.
Kindred says it will walk away from the takeover bid if the sweetened offer doesn’t produce talks. Kindred is pursuing a purchase of 14.9 percent of Gentiva’s stock, since the company implemented a “poison pill” provision precluding an amount greater than that.