A nurse cares for a patient at home. Photo: Jonathan Wiggs / The Boston Globe via Getty

Hedge fund Brigade Capital Management gobbled up 5.8% of Kindred Healthcare's stock on Wednesday, becoming the fifth-largest shareholder, in a bid to oppose Kindred's pending sale. Earlier this month, Humana and two private-equity firms said they were buying Kindred's home health and hospice businesses for $9 a share.

What was said: In a letter to Kindred CEO Ben Breier, Brigade Capital founder Don Morgan called the deal a "poor transaction" and said it was a "terrible time to sell the company" because Kindred's stock was battered by short-term changes and home health regulations that were ultimately thrown out.

What to watch for: Whether other Kindred investors will demand a higher takeover price before they vote to approve the deal next year.

Go deeper

Dave Lawler, author of World
7 mins ago - World

Global coronavirus vaccine initiative launches without U.S. or China

Data: Gavi, The Vaccine Alliance; Map: Naema Ahmed/Axios

A global initiative to ensure equitable distribution of coronavirus vaccines now includes most of the world — but not the U.S., China or Russia.

Why it matters: Assuming one or more vaccines ultimately gain approval, there will be a period of months or even years in which supply lags far behind global demand. The COVAX initiative is an attempt to ensure doses go where they're most needed, rather than simply to countries that can produce or buy them at scale.

Updated 32 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 6:15 p.m. EST: 32,062,182 — Total deaths: 979,701 — Total recoveries: 22,057,268Map.
  2. U.S.: Total confirmed cases as of 6:15 p.m EST: 6,967,103 — Total deaths: 202,558 — Total recoveries: 2,670,256 — Total tests: 97,459,742Map.
  3. Health: Cases are surging again in 22 states — New York will conduct its own review of coronavirus vaccine.
  4. Business: America is closing out its strongest quarter of economic growth.
  5. Technology: 2020 tech solutions may be sapping our resolve to beat the pandemic.
  6. Sports: Here's what college basketball will look like this season.
  7. Science: During COVID-19 shutdown, a common sparrow changed its song.
2 hours ago - Podcasts

The child care tax on America's economy

Child care in the U.S. is in crisis, which makes it much harder for the American economy to recover — as providers struggle to stay in business and parents wrestle with work.

Axios Re:Cap digs into the problems and what can be done to solve them, with Vox senior reporter Anna North.

Get Axios AM in your inbox

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Subscription failed
Thank you for subscribing!