Letter

Elliott Management's letter to the athenahealth board proposing a take-private (May 2018)

Jesse Cohn · 2018

Shows an activist turning into a bidder: the case against a company's public-market record, followed by the price, premium, financing and diligence terms of a take-private proposal.

• Activism and governance
• Deals and M&A

1 idea from this letter

• Case studyActivism and governance located

  An activist turns bidder when the public market has not worked

  A take-private proposal is a complete case: the public record that failed, the price, the premium, the financing and the timetable, in that order.

  Take-private analysis, premium questions, and private equity interviews on how a deal is proposed.