Extra Time Ordered For $4.1B Kindred-Humana Merger Vote

Law360 (March 27, 2018, 7:02 PM EDT) -- Delaware’s Chancery Court on Tuesday ordered Kindred Healthcare Inc. to extend or delay a stockholder vote on a proposed, $4.1 billion, three-way acquisition by Humana Inc. and two private equity firms, after a Kindred investor flagged allegedly inadequate disclosures of a director’s conflicts.

Ruling from the bench, Vice Chancellor Sam Glasscock III directed Kindred to either delay the vote — originally set for Thursday — by five business days or keep it open for the same length of time.

The decision rejected arguments by affiliates of Brigade Capital Management LP that Kindred needed to reschedule the vote and correct or supplement...

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