A lawsuit was filed for investors in shares of Kindred Healthcare, Inc. (NYSE:KND) in connection with the proposed takeover and NYSE:KND stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/12/2018 -- The Shareholders Foundation announces that an investor, who currently holds NYSE:KND shares, filed a lawsuit against the proposed takeover of Kindred Healthcare, Inc.
Investors who purchased shares of Kindred Healthcare, Inc. (NYSE:KND) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:KND stockholders by agreeing to sell Kindred Healthcare, Inc. cheaply via an unfair process.
On Dec. 19, 2017, Kindred Healthcare, Inc. (NYSE:KND) announced that its Board of Directors has approved an agreement under which it will be acquired by a consortium of three companies: TPG Capital ("TPG"), Welsh, Carson, Anderson & Stowe ("WCAS") and Humana Inc. ("Humana") (NYSE: HUM) (together, the "consortium") for approximately $4.1 billion in cash including the assumption or repayment of net debt. Under the terms of the agreement, Kindred Healthcare, Inc. (NYSE:KND) stockholders will receive $9.00 in cash for each share of Kindred common stock they hold.
However, plaintiff claims that the proposed consideration NYSE:KND shareholders will receive is grossly inadequate and undervalues Kindred Healthcare, Inc. Indeed, at least one analyst has set the high price target for NYSE:KND shares at $11.00 per share and NYSE:KND shares traded in the open market as recently as June 2017 as high as $11.65 per share. Furthermore, Kindred Healthcare, Inc. reported that its annual Total Revenue rose from over $7.05 billion in 2015 to over $7.21 billion in 2016. Shares of Kindred Healthcare, Inc. (NYSE:KND) reached in 2014 as high as $26.26 per share. In addition, the plaintiff alleges that the process is also unfair NYSE:KND stockholders
Those who are current investors in Kindred Healthcare, Inc. (NYSE:KND) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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