Wednesday, September 12, 2007

Activist Target Authentidate (ADAT) Engaged In Negotiations With a Private Company

Coghill Capital's activist target, Authentidate Holding (Nasdaq: ADAT), announced after the close that it is engaged in negotiations concerning a potential business combination between the Company and a private company.

The market just yawned at the news (stock basically flat), but this might be interesting to watch.

It is unclear if Coghill is involved in the process, but in the past the firm said it made several suggestions relating to the implementation of the company's strategic business initiatives.

Coghill Capital owns a 9.9% stake in ADAT.

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