Endologix Denies Elliott Associates' Buyout Offer
| November 13th, 2008 | ||
| Endologix Inc. (NASDAQ:ELGX), developer of the Powerlink(R) system, announced today that its Board of Directors has unanimously decided to deny the $98 million offer it received in October from activist hedge fund manager Elliott Associates. The press release said that the Board came to the conclusion after careful consideration and after receiving advice from bankers at Piper, Jaffray & Co. John McDermott, president and CEO commented that although the offer from Elliot Associates was much appreciated, it didn’t match the potential of the company and the positive developments it had made in 2008 such as the recent FDA product approvals. | ||
See Press Release | ||
For Detailed Investor Profiles on these Investors, click below: |
Elliott Management Corporation |
Related People: Brian Miller;
Related Entities: Elliott Associates;
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles
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