|Bid||150.50 x 800|
|Ask||153.80 x 4000|
|Day's Range||148.65 - 150.55|
|52 Week Range||111.61 - 158.66|
|PE Ratio (TTM)||114.51|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The Boston asset manager was athenahealth's largest shareholder at the end of 2017. A few months later, that had changed.
Elliott Management Corp. said it has heard nothing from Athenahealth Inc. or its board after proposing on May 7 to acquire the health technology company for $6.46 billion. “Since that time, we have heard nothing from the company beyond its cursory, boilerplate press release,” Jesse Cohn, an Elliott partner and senior portfolio manager, said in a letter to Athenahealth’s board Monday. “We are also aware that other parties have conveyed directly to the company interest in acquiring Athenahealth,” Cohn wrote.
On today's episode of the Tech Talk Tuesday podcast, Ryan McQueeney discusses Athenahealth (ATHN), a medical technology company that has found itself the target of an activist takeover from Paul Singer's Elliott Management.
Activist investor Elliott Management Corp. is pushing to take Athenahealth Inc. private, arguing the health-care software company is botching an opportunity to expand and, as a result, isn’t providing adequate returns to shareholders. Elliott, which has an 8.9% stake in Athenahealth, offered on Monday to buy the remainder of the company for $160 a share, a 27% premium to its Friday closing price. “It is clear to us and becoming clear to many others that Athenahealth’s potential will never be realized without the kind of operational change that the company seems unable to deliver,” Elliott said in a letter.
to consider "strategic options," $35 billion activist investor Elliott Management on Monday launched a hostile bid to buy the healthcare technology company for as much as $6.9 billion including debt, in an all-cash offer. Athenahealth shares rose 16%, or $19.93 cents to $146.02. The bid, for $160 a share, may be the latest example of Elliott Management shifting from its bread-and-butter activist activists into the world of private equity, following its move recently to set up a Menlo Park, Calif.-based private equity team, Evergreen Coast Capital Partners.
The offer from Elliott, which has pressured Athenahealth to make operational and strategic changes, represents a premium of about 27 percent to the healthcare company's Friday closing price. The hedge fund said it had "extensive private engagement" with Athenahealth's management and board during the past year, and believes that the company, which former General Electric Co (GE.N) Chief Executive Jeff Immelt joined as chairman this year, cannot make the changes it needs while it remains a public company.
Prominent athenahealth investor Elliott Management Corp. is offering about $6.5 billion to take the medical billing software maker private after saying it has grown frustrated with the company's performance. Athenahealth stock soared Monday after the shareholder outlined its unsolicited bid. The investor says it owns about a 9 percent stake in athenahealth, and the company has not made the changes it needs to grow and create value as a public company.
In the months leading up to a $6.4 billion takeover bid announced Monday, activist investor Elliott Management grew increasingly frustrated with months of attempts on the part of athenahealth Inc. to restructure itself.
Shares of Athenahealth (ATHN) opened more than 20% higher on Monday after Paul Singer's Elliott Management offered to buy the healthcare technology company in an all-cash deal valued at $160 per share.
Elliott Management Corp. confirmed Monday, May 7, it made a bid for Athenahealth Inc. "Elliott proposes to acquire Athenahealth for $160 per share in cash. Last year, Elliott, run by hedge fund manager Paul Singer, bought a 9.2% stake in Athenahealth.
Activist investor Elliott Management is looking to acquire athenahealth in an all-cash offer at $160 a share, sending shares skyrocketing 22 percent Monday morning.
AthenaHealth Inc. shares surged 24% in Monday morning trade after activist investor Elliott Management said it plans to acquire the company for $160 per share in cash, in a deal valued at about $7 billion. Elliott already has an about 9% stake in AthenaHealth, and previously approached the company about taking it private in November, it said in a letter to AthenaHealth's board of directors, but AthenaHealth "refused to engage." "Unfortunately, we are faced now with the stark reality that athenahealth as a public-company investment, despite all of its promise, has not worked for many years, is not working today and will not work in the future," Elliott Management said in the letter.
Paul Singer's Elliott to make all-cash offer for Athenahealth of $155-$160 a share: Sources|| 105184790
, an American electronic medical records company, for about $7bn in one of its largest attempted takeovers to date. Elliott said in a letter to Athenahealth’s board on Monday that its bid for $160 per share offered “compelling, premium value to shareholders.” At Friday’s market close, the company had a market capitalisation of $5.1bn, and shares were trading at $126.08. Athenahealth said it had received the offer and that the board would review it.
CNBC’s David Faber discusses the all-cash bid from Paul Singer’s Elliott Management for Athenahealth, which values that company at $160 per share.
May.07 -- Athenahealth Inc. shares rose after Elliott Management Corp. bid to acquire the medical company for $160 a share. Bloomberg’s Abigail Doolittle has the latest on "Bloomberg Markets."