Gentiva Health Services Inc. (GTIV:US), the home health and hospice company resisting a hostile takeover attempt from Kindred Healthcare Inc., said it was approached by another investor in the sector with a higher bid.
The alternative bidder for Gentiva said it would offer $17.25 a share in cash. Based on Gentiva’s outstanding shares of about 36.8 million, the equity value of the deal would be $634.8 million. The company’s board said it would review this new proposal, without naming the bidder.
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