Athenahealth shares recovered some losses on Tuesday after CNBC reported the health-care expertise firm prolonged its deadline for bids to accommodate a late provide.
Shares of Athenahealth, which sells a software program platform to medical suppliers, had fallen 11 % in premarket buying and selling on the Put up report. Nonetheless, the inventory regained floor after Faber’s report. Not too long ago, the shares had been down lower than 5 % at midmorning. The inventory is greater than 7 % larger to this point this yr.
Elliott Administration officers weren’t instantly out there to remark. An Athena spokesperson stated the corporate had no remark.
In Might, Elliott Administration stated it was keen to pay a complete of $6.9 billion contingent on due diligence. On the time, Elliott stated its stake within the firm was at eight.9 %.
Athenahealth in June stated it sought strategic options after its founder and CEO, Jonathan Bush, stepped down, dealing with allegations that he attacked his then spouse 13 years in the past. When initially saying the evaluation, Athenahealth stated it could take into account a sale, merger or remaining an impartial firm.
Bush, nephew of former President George H.W. Bush, based the health-care expertise firm in 1997.