Brigade Capital hedge fund criticizes Humana-Kindred deal [Reuters (UK)]
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Source: Reuters
Brigade Capital hedge fund criticizes Humana-Kindred deal | Reuters Reuters Staff 2 Min Read NEW YORK (Reuters) - Hedge fund Brigade Capital Management, a top shareholder in Kindred Healthcare Inc, said on Wednesday that the deal by U.S. health insurer Humana Inc and two private equity firms to buy Kindred was “disappointing and grossly inadequate.” Humana, TPG Capital and Welsh, Carson, Anderson & Stowe agreed to buy home healthcare and long-term care operator Kindred on Dec. 19 for about $810 million in cash, or $9 per share. With debt and other costs, they said they were paying about $4 billion for the company. In a filing with the U.S. Securities and Exchange Commission on Wednesday, Brigade said it had sent a letter to Kindred’s board making the case that the price tag was too low and that it planned to vote against the deal. Brigade said it had built a 5.8 percent stake in Kindred. That would make it the fifth largest shareholder in the company, according to Thomson Reuters data
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