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Fly News Breaks for July 31, 2018
WETF, BEN
Jul 31, 2018 | 07:27 EDT
Citi analyst William Katz places a low probability on Franklin Resources (BEN) acquiring WisdomTree (WETF). The analyst this morning downgraded the latter to Sell from Neutral. The analyst thinks Franklin would have to pay a "very sizeable" premium for WisdomTree, likely curbing accretion benefits. He notes that Franklin management on the Q2 earnings call noted they would be willing to pay up for growth areas.
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