Gentiva Health spurns $533 mln bid from Kindred Healthcare

Thu May 15, 2014 6:15am EDT

May 15 (Reuters) - Kindred Healthcare Inc said it offered to buy home healthcare services company Gentiva Health Services Inc for $533 million, but the bid was rejected by Gentiva as it expects to generate more value as a stand-alone company.

Kindred said it offered to pay $14 per share - equally split in cash and stock - to Gentiva stockholders, representing a premium of 64 percent to the stock's closing price on Wednesday.

Including debt, the deal was valued at $1.6 billion. (Reporting by Esha Dey in Bangalore; Editing by Savio D'Souza)