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Fly News Breaks for September 28, 2018
ATHN
Sep 28, 2018 | 09:15 EDT
RBC Capital analyst George Hill lowered his price target on Athenahealth to $140 and kept his Sector Perform rating amid the latest CNBC reports of "multiple bids" coming from potential strategic acquirers. The analyst states that the speculation around bid prices coming below Elliott Management's prior "soft $160" per share bid, along with earlier reports of his reduced interest following due diligence, suggest that the bid price could be around the company's current trading price. Hill further notes that the reported interest could force the board to decide on whether to accept the bids within weeks.
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