Kindred Healthcare steps up hostile pursuit of Gentiva

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Kindred Healthcare steps up hostile pursuit of Gentiva

Kindred Healthcare Inc raised its hostile bid for a stake in Gentiva Health Services Inc, stepping up its pursuit of the home healthcare services provided by Gentiva to an aging U.S. population. Hospital operator Kindred offered $16 per share for a 14.9 percent stake in Gentiva, valuing the company at $589 million, based on the 38.6 million Gentiva shares outstanding as of May 7, according to Thomson Reuters data. The stake would make Kindred the company's largest single shareholder. Gentiva last month adopted a "poison pill" with a trigger of 15 percent.

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