Report: Allscripts Shares Fall as Frontrunner Buyer Emerges
The Chicago Tribune reports that investment firm Blackstone Group is the leader in the sweepstakes to buy Allscripts, but the companies are far apart on price and theres no certainty of a deal being made.
The Chicago Tribune reports that investment firm Blackstone Group is the leader in the sweepstakes to buy Allscripts, but the companies are far apart on price and there’s no certainty of a deal being made.
On that news, Allscripts’ stock price dropped 11 percent on Nov. 30, though it fell by only 2 cents more in late morning trading on Dec. 3. Allscripts on Nov. 8 reported weak financial performance for the third quarter of 2012, saying providers were deferring purchase decisions and waiting for new product releases. CEO Glen Tullman confirmed the company was evaluating “strategic alternatives,” which Bloomberg News first reported in October. Tullman blamed the “noise” of acquisition talk on lower bookings in the third quarter and said, “We think we’ll be well-positioned once we get past the noise.”
Reuters then reported on Nov. 14 that Blackstone Group, Carlyle Group and TPG Capital had submitted second-round offers to Allscripts.
On that news, Allscripts’ stock price dropped 11 percent on Nov. 30, though it fell by only 2 cents more in late morning trading on Dec. 3. Allscripts on Nov. 8 reported weak financial performance for the third quarter of 2012, saying providers were deferring purchase decisions and waiting for new product releases. CEO Glen Tullman confirmed the company was evaluating “strategic alternatives,” which Bloomberg News first reported in October. Tullman blamed the “noise” of acquisition talk on lower bookings in the third quarter and said, “We think we’ll be well-positioned once we get past the noise.”
Reuters then reported on Nov. 14 that Blackstone Group, Carlyle Group and TPG Capital had submitted second-round offers to Allscripts.
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