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Endologix says gets unsolicited bid from hedge fund

Reuters – Endologix Inc said it received an unsolicited takeover bid from hedge fund Elliott Associates LP for $2.25 a share, 18 percent higher than the stock’s Wednesday closing price.

The company, which develops and manufactures minimally invasive treatments for vascular diseases, said it will review the unsolicited proposal and make a determination and respond in due course.

Endologix asked its stockholders to defer judgment on the unsolicited proposal until that determination has been made.

Also on Wednesday, New York-based Elliott took its $529 million cash offer for Epicor Software Corp directly to shareholders, two days after it was snubbed by the business software maker’s board. [nBNG397251]

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