IRVINE, Calif.--(BUSINESS WIRE)--Endologix, Inc. (NASDAQ:ELGX), the developer of the Powerlink® System for the minimally invasive treatment of abdominal aortic aneurysms (AAA), today announced that its Board of Directors has unanimously determined not to pursue the unsolicited indication of interest from Elliott Associates, L.P. dated October 13, 2008. The Board of Directors thoroughly reviewed and considered Elliott Associates’ proposal and reached its decision after determining, in consultation with its independent financial and legal advisors Piper Jaffray & Co. and Stradling Yocca Carlson & Rauth that Elliott Associates’ proposal is not in the best interests of Endologix’s shareholders.
