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Athenahealth Extends Deadline for Bids, Talks Continue

Scott Deveau
Athenahealth Extends Deadline for Bids, Talks Continue

Athenahealth Inc. has pushed out a bid deadline for potential acquirers by a few weeks as it talks with at least two suitors, including Elliott Management Corp., that remain interested in the health records technology company, according to people familiar with the matter. Elliott has partnered up with private equity firm Bain Capital, and is actively evaluating a potential deal, as is at least one other strategic bidder, the people said. Athenahealth shares fell as much as 11 percent on Tuesday after the New York Post cited sources saying that Elliott was backing away from a May proposal to pay $160 a share for Athenahealth and that it might reduce its offer.