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Fly News Breaks for June 15, 2018
AMAG
Jun 15, 2018 | 10:35 EDT
Piper Jaffray analyst Christopher Raymond noted that Amag Pharmaceuticals paid $700M for Cord Blood Registry less than three years ago and has now agreed to sell the business to a private equity firm for $530M in cash, which leaves him with less confidence that the company's next deal will result in significant value creation. Raymond, who added that CBR had a "questionable strategic fit from the beginning," keeps a Neutral rating on Amag shares.
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