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Report: Blackstone leads race for Allscripts | Wall Street Beat

Mon, 12/03/2012 - 1:21pm
Mass Device

Private equity firm Blackstone Group leads the pack pursuing a buyout of Allscripts, according to Reuters.

MassDevice.com Wall Street Beat

Blackstone Group is said to be leading the bidding war for electronic medical records company Allscripts (NSDQ:MDRX) but the 2 sides are far from agreeing on a price, according to Reuters.

Citing 3 "people familiar with the matter," the news agency said a deal is "highly uncertain."

Blackstone has edged out Carlyle Group and TPG Capital Management so far but is "skeptical" that a deal can be struck, according to Reuters. That's because Allscripts, bedeviled by sliding earnings and increased competition from the likes of Cerner (NSDQ:CERN) and Epic Systems Corp., is still demanding a high premium.

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