May 7, 2018 / 2:05 PM / 4 months ago

BRIEF-Elliott Management Makes Proposal To Acquire Athenahealth

May 7 (Reuters) - Elliott Management Corporation:

* ELLIOTT MANAGEMENT MAKES PROPOSAL TO ACQUIRE ATHENAHEALTH

* SAYS PROPOSES TO ACQUIRE ATHENAHEALTH FOR $160 PER SHARE IN CASH

* SAYS LAST NOVEMBER, APPROACHED ATHENAHEALTH ABOUT POSSIBILITY OF TAKE-PRIVATE DEAL INVOLVING ELLIOTT OR OTHER INTERESTED PARTIES

* SAYS ELLIOTT ASSOCIATES, ELLIOTT INTERNATIONAL OWN STOCK & ECONOMIC EQUIVALENTS REPRESENTING 8.9% OF OUTSTANDING STOCK OF ATHENAHEALTH

* SAYS PROPOSES TO ACQUIRE ATHENAHEALTH FOR $160/SHARE IN CASH, REPRESENTING AN ENTERPRISE VALUE OF ABOUT $6.9 BILLION

* SAYS ATHENAHEALTH “REFUSED TO ENGAGE” ABOUT APPROACH MADE LAST NOVEMBER ON POSSIBILITY OF TAKE-PRIVATE DEAL

* SAYS IT HAS RECEIVED FINANCING INDICATIONS FROM LEADING BANKS IN LEVERAGED FINANCE FOR PROPOSED DEAL

* SAYS INTEND TO FINANCE REMAINING CAPITAL REQUIRED FOR ATHENAHEALTH DEAL THROUGH EQUITY INVESTED BY ELLIOTT, SELECT PARTNERS

* SAYS BELIEVES IT CAN COMPLETE CONFIRMATORY DUE DILIGENCE IN ABOUT 3 WEEKS IF PROVIDED “APPROPRIATE ACCESS” TO MANAGEMENT & INFORMATION

* SAYS AS A NEXT STEP, WOULD WELCOME OPPORTUNITY TO DISCUSS PROPOSAL WITH ATHENAHEALTH BOARD Source text for Eikon: Further company coverage:

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