In mid-October, reports surfaced that at least five potential bidders had expressed interest in acquiring athenahealth. These bids came after New York City-based hedge fund Elliott Management made an unsolicited all-cash bid for athenahealth worth roughly $7 billion in May, offering to acquire the company at $160 per share.
One month later, athenahealth issued a statement that the company’s board of directors initiated a process to consider “strategic alternatives” for the company, which might include a sale or merger.
At least a strategic buyer and two private equity firms had expressed interest in athenahealth, according to CNBC, but the bids were close to the company’s stock price at $131.
During October, athenahealth’s stock dropped to around $123; however, shares increased more than 3 percent Oct. 26.
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