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Eclipsys Presses Takeover Bid

March 07, 2000|Reuters

Eclipsys Corp. stepped up its $2 billion unsolicited bid to take over its much larger rival, Shared Medical Systems Corp. The health-care computer services company said it had nominated four candidates to replace a majority of Shared Medical's current board and has sued the company to nullify a provision that would make the takeover more difficult. Malvern, Pa.-based Shared Medical's stock, which had shot up 63% since the bid was announced last week, closed off $1.75 at $61.75 on the New York Stock Exchange. Delray Beach, Fla.-based Eclipsys fell $2 to close at $24.88 on Nasdaq.

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