SAN DIEGO, Dec. 19, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Kindred Healthcare, Inc. ("Kindred ") (NYSE: KND) breached their fiduciary duties in connection with the proposed sale of the Company to a consortium of three companies: TPG Capital ("TPG"), Welsh, Carson, Anderson & Stowe ("WCAS") and Humana Inc. ("Humana") (together, the "consortium"). Kindred provides healthcare services in the United States. It operates in six segments: Hospitals, Home Health Services, Hospice Services, Kindred Hospital Rehabilitation Services, RehabCare, and Nursing Centers.
On December 19, 2017, Kindred announced that it had signed a definitive merger agreement with the consortium. Under the terms of the agreement, Kindred stockholders will only receive $9.00 in cash for each share of Kindred common stock they hold.
The investigation concerns whether the Kindred board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Kindred shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given the Company's outlook for future earnings growth, and one Wall Street analyst has an $11.00 price target on the stock. The 52-week high for Kindred was $11.50.
If you are a shareholder of Kindred and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471. If emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
SOURCE Johnson Fistel, LLP