Judge denies request to block sale of Kindred Healthcare - WDRB 41 Louisville News

Judge denies request to block sale of Kindred Healthcare

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Kindred Healthcare's headquarters in Louisville Kindred Healthcare's headquarters in Louisville

LOUISVILLE, Ky. (WDRB) --  A Delaware judge has denied a request by a major shareholder of Louisville-based Kindred Healthcare to halt the company’s planned sale to Humana Inc. and a pair of private equity firms, according to a regulatory filing by Kindred.

The victory for Kindred comes just before a special meeting on Thursday in which shareholders of the company will vote on the sale, which some have criticized as undervaluing the company.

But the Delaware judge ordered that Kindred keep the voting open through April 5, the company said.

Brigade Capital Management, a New York investment firm which controls 7.54 percent of Kindred’s stock, filed suit in Delaware earlier this month to block the sale.

Brigade declined to comment on the judge’s ruling.

“We continue to expect to complete the transaction this summer and look forward to providing Kindred’s stockholders with premium cash value for their investment,” Kindred said in a press release.

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