Kindred Healthcare will acquire RehabCare Group for about $900 million, The Wall Street Journal reports. As per the deal, which also includes the assumption of about $400 million in debt, RehabCare stockholders will get $26 in cash and 0.471 Kindred shares for each of their shares.
Kindred has received financing commitments from JPMorgan Chase Bank, Morgan Stanley Senior Funding and Citigroup Global Markets, adds Reuters. Morgan Stanley advised Kindred, while Citigroup advised RehabCare.
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