Elliott Makes $160/Share All-Cash Bid for Athenahealth (ATHN)

(Updated - May 7, 2018 9:36 AM EDT)

Elliott Managment made an all-cash $160 per share offer for Athenahealth (NASDAQ: ATHN), according to a letter from the hedge fund.

Elliott currently owns 8.9% of Athenahealth and has been pushing the company to sell itself.

Elliott offered $160 per share in cash but said they "may also be able to substantially improve the proposed price with additional, private diligence."

CNBC's David Faber initially broke the news of the offer.

Below is the letter from Elliott.

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