Monday, July 21, 2014

Kindred Looks Increasingly Desperate


Kindred's CEO Paul Diaz raised the offer for Gentiva to $17.25 per share.  A week ago Kindred said $16 but no higher without a date where Kindred gets to look at the goods.  Value, like beauty, is in the eye of the beholder.

Kindred's desperate offer matches that of a mysterious white knight, likely a leveraged buyout organization (LBO).  Firms mentioned as possible bidders include GTCR, Cressey & Co,, Formation Capital and KKR. 

Emergence of the mystery bidder left Kindred with a difficult choice: either walk away from Gentiva and watch a possible competitor buy a company it wanted and outflank it in the healthcare marketplace or swallow hard and raise its bid
The testosterone meter is dinging like an alarm clock.  Kindred punch thrown.  And the LBO/White Knight response?

Anonymous (from Gentiva)


  1. I better get a big raise or a big severance check.

  2. Spoken like a Gentiva higher up.