Athenahealth confident about reaching deal within two weeks, sources say

Published Fri, Oct 26 201810:02 AM EDTUpdated Fri, Oct 26 201811:50 AM EDT

David Faber @DavidFaber

WATCH LIVE

Key Points

Athenahealth has been exploring options since an unsolicited bid by activist hedge fund Elliott Management earlier this year.
CNBC reported last month that interest was coming from two private equity firms and a strategic buyer, but the bids were not then far off the stock price at $131.
Shares of Athenahealth are up Friday, but have fallen over the last month to about $123.

VIDEO1:0501:05

Athenahealth receives several bids: Sources

Squawk on the Street

Athenahealth is confident it can reach a deal with one of several bidders within two weeks, sources told CNBC.

The company has received several bids, the sources said, and there is confidence they will get a deal done. Athenahealth has been exploring options since an unsolicited bid by activist hedge fund Elliott Management earlier this year. CNBC reported last month that interest was coming from two private equity firms and a strategic buyer, but the bids were not then far off the stock price at $131.

Athenahealth's stock has fallen over the last month along with a broader market downturn, and is currently around $123. The shares were up more than 3 percent Friday. That might leave some room for a deal premium.