Strange Tony,
Two weeks after the Ides of March Kindred shareholders will vote for or against the leveraged buyout by two private equity firms, a Canadian pension and Humana. Oddly, Kindred stock again trades at a premium to the buyout price of $9 per share.
Major shareholder Brigade Capital sued to block the leveraged buyout takeover. The next day KND stock closed at $9.45 per share, a 5% premium to the negotiated deal. It closed today at $9.35.
Brigade Capital seeks injunctive relief prohibiting the shareholder vote. Kindred management and board vigorously defend their long term equity decimation with both the stock price and company's balance sheet.
The vote will occur on March 29, 2018. Kindred's recent 10-K had this to say regarding executive pay:
Executive Compensation --- Information required by this item will be provided by an amendment to this Annual Report on Form 10-K containing the applicable disclosures within 120 days after the end of the fiscal year covered by this report.The amendment could be provided as late as April 30, 2018, one month and a day after the shareholder vote. Generic Hospice is not the only source who believes the deal is the floater in the Country Club pool.
Institutions and insiders will decide the deal. Employees are the fly at the end of the bamboo cane pole. Prepare to be whipped around and eaten by financial types, the fishy kind.
Anonymous (from the Kindred employee pool)
The postage and printing costs of all the proxy materials (let alone the legal fees to produce) could have provided employee raises for years to come. I got multiple packages and voted "no" in vain...
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