Kindred Healthcare upped its bid for Gentiva from $14 to $14.50 a share. Kindred can acquire 14.9% of Gentiva's shares without invoking a poison pill, approved by Gentiva's board after Kindred made public its initial takeover offer. Kindred stated it wants 100% of Gentiva's stock in the $14.50 tender offer and intends to amend the filing for the 14.9% holding if it's not successful in getting all of Gentiva's stock.
Gentiva's executives promised a response within ten days to Kindred's continued aggression. Not long ago Kindred told Wall Street analysts it would not be deterred in its courtship of Gentiva. Kindred leaders stated they were determined to consummate the deal. That theme resurface in today's announcement:
"we remain confident that we will succeed in consummating this value-enhancing transaction..."
This ensures senior leaders are too occupied to notice any abusive management practices at the hospice site level. It takes awareness and sensitivity to detect damaged leaders. With area and regional leaders turning over faster than annually, there's a very small chance of detection. It becomes exponentially smaller given our site leader monopolizes corporate staff when they visit, highlighting how hard they work and how people are so lacking or unfair to them.
The system of insensitive, abusive, whimsical management is firmly entrenched locally, but is sustained by an eerily similar corporate culture. The Kindred deal acts as a balm for our branch manager. While fighting the shark, it's hard to notice the piranha dressed as a guppy.
Anonymous (from Gentiva)