Athenahealth Says Reviews $160/shr Acquisition Offer From Elliott Management

(RTTNews) - athenahealth Inc. (ATHN), a provider of network-enabled services for hospital and ambulatory customers nationwide, confirmed that it has received an unsolicited proposal from Elliott Management to acquire the Company for $160 per share in cash.

athenahealth said its board will carefully review the proposal to determine the course of action that it believes is in the best interest of the Company and athenahealth shareholders. athenahealth shareholders do not need to take any action at this time.

Earlier today, Elliott Management Corp. said it proposed to acquire athenahealth Inc. for $160 per share in cash for 100% of the outstanding shares of the Company, representing an enterprise value of about $6.9 billion. The Proposal represents a premium of 27% to the current stock price and about 50% to the stock price prior to its 13D filing.