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Fly News Breaks for February 13, 2018
AMBR
Feb 13, 2018 | 07:38 EDT
Stifel analyst Tom Roderick noted the speed with which Amber Road rejected the unsolicited $10.50/share takeover offer made public by E2Open, which he reads as an indication that the bid had "already been rejected behind closed doors, or at the very least, was under slow consideration." He thinks this is likely to be the beginning, rather than the end, of a process and believes a competitive process could potentially yield a modestly higher offer. Roderick keeps his Buy rating and $12 price target on Amber Road shares.
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