A multioffice team of attorneys with international law firm Greenberg Traurig represented longtime client Gentiva Health Services, Inc. (NASDAQ:GTIV) in its definitive merger agreement with Kindred Healthcare, Inc. (NYSE:KND). The transaction is valued at $1.8 billion, including the assumption of net debt. The companies expect the closing of the transaction to occur in the first quarter of 2015.
The Greenberg Traurig deal team was led by Shareholder Dennis J. Block, Senior Chairman of the firm’s Global Corporate M&A Practice, based in the firm’s New York office, and Corporate & Securities Shareholder Gary E. Snyder, based in the firm’s Atlanta office. The team also included an additional 22 Greenberg Traurig shareholders and two of counsels from various offices across the country: Drew M. Altman, Miami, Corporate & Securities, Shareholder; David C. Ashburn, Tallahassee, Health Care, Shareholder; Sean W. Bezark, Chicago, Real Estate Shareholder; Margaret J. Butler, New York, Corporate & Securities, Shareholder; Cindy J. Davis, Atlanta, Corporate – Banking, Shareholder; Ron E. Deutsch, New York, Corporate – Banking, Shareholder; Ronald W. Eisenman, Atlanta, Corporate & Securities, Shareholder; Harry J. Friedman, Fort Lauderdale, Tax, Shareholder; Stacey O. Gallant, Atlanta, Corporate & Securities, Shareholder; Peter N. Hall, Atlanta, Labor & Employment, Of Counsel; Ian Herbert, North Virginia, Tax, Shareholder; Andrew R. Hough, Atlanta, Corporate & Securities, Shareholder; Michael J. King, Atlanta, Litigation, Shareholder; Leslie A. Klein, Phoenix, Tax, Shareholder; Steven B. Lapidus, Miami, Tax, Shareholder; Mindy B. Leathe, Miami, Tax, Shareholder; David Long-Daniels, Atlanta, Labor & Employment, Shareholder; Michael J. Maimone, Delaware, Litigation, Shareholder; Mary Marks, New York, Litigation, Of Counsel; Nicole A. Perez, New York, Corporate & Securities, Shareholder; Ira N. Rosner, Miami, Corporate & Securities, Shareholder; Kelly A. Terribile, Delaware, Corporate & Securities, Shareholder; Natasha L. Wilson, Atlanta, Labor & Employment, Shareholder; Todd D. Wozniak, Atlanta, Labor & Employment, Shareholder.
Under terms of the agreement announced in a joint press release, Kindred will acquire all of the outstanding shares of Gentiva common stock for $19.50 per share in a combination of cash and stock. Gentiva shareholders will receive $14.50 per share in cash and $5.00 of Kindred common stock. This acquisition will make Kindred at Home the nation’s largest and most geographically diversified home health and hospice organization, according to the release.
The cash and equity structure of the transaction represents a 128 percent premium to Gentiva’s stock price May 14, 2014, the day before Kindred made its first public bid of $14 per share.
The combined company will continue to be headquartered in Louisville, Kentucky, and will maintain a significant, regional presence in Atlanta. The combined home health and hospice businesses will operate within the Kindred at Home division.
Source: www.gtlaw.com
