Paul Singer's Elliott makes all-cash offer for Athenahealth of $160 a share

Elliott Management made an all-cash deal for Athenahealth, an EHR company, with a bid of $160 a share, the activist firm said in a letter Monday.

The proposal is a 27 percent premium to Athenahealth's share price as of Friday. The shares jumped nearly 24 percent in trading on Monday after CNBC's David Faber reported that Elliott was preparing to make the bid, citing sources familiar with the matter.