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Fly News Breaks for July 22, 2016
BLBD
Jul 22, 2016 | 07:13 EDT
After PE firm American Securities which has a 56% stake in Blue Bird made a non-binding indication of interest to acquire the remaining equity in the company for $12.80-$13.10 per share, Stifel expects Blue Bird to reject this offer. However, the firm says it's "possible" that American Securities will raise its bid to $14-$15 per share, and the firm thinks that such an offer would be "attractive." Stifel raised its price target on the shares to $15 from $14 and keeps a Buy rating.
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