Elliott Management Corp. released a letter to the board of athenahealth Inc., taking issues with the company's lack of communication since the activist investor proposed to acquire athenahealth for $160 per share in cash.
"We have received no direct communication despite our emails and messages to athenahealth offering to discuss next steps or to answer any questions regarding our proposal," Jesse Cohn, partner and senior portfolio manager at Elliott, said in the letter.
Elliott said athenahealth acted in a similar manner when it tried to get it to engage in November 2017.
"Elliott believes that, for the benefit of shareholders and the Company, this pattern of behavior needs to stop," Cohn wrote. "It is our view that immediate engagement with Elliott to explore a take-private transaction is the right course forward for all athenahealth stakeholders."
