Wednesday, October 15, 2008

Endologix Gets Unsolicited Offer To Buy Firm

Irvine-based Endologix, which develops medical devices for the minimally invasive treatment of abdominal aortic aneurysms, said Wednesday that it has received an unsolicited offer for the company from private equity firm Elliot Associates. According to the firm, Elliott Associates has offered the firm $2.25 per share for the company. The deal is worth approximately $98M. Endologix said it will consult with its financial advisors and legal counsel on the proposal. The bid for Endologix is the second in recent weeks for Elliot Associates, which is also looking to buy Irvine-based Epicor Software.