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Fly News Breaks for December 17, 2018
ACHC
Dec 17, 2018 | 11:12 EDT
Credit Suisse analyst A.J. Rice said the abruptness of the CEO change at Acadia was surprising and he believes the executive replacement makes an LBO less likely in the near-term. Acadia said only that it "felt that now is the right time to bring in a new leader," which could suggest that the board was not pleased with the turnaround plan for the U.K. and could also suggest dissatisfaction with efforts to consider strategic alternatives, said Rice. The analyst, who does not see a quick fix to Acadia's struggles, keeps a Neutral rating on the shares.
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