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Fly News Breaks for November 12, 2019
DF
Nov 12, 2019 | 12:55 EDT
In a research note titled "Milk Has Spoiled," BMO Capital analyst Amit Sharma discontinued coverage of Dean Foods after the company filed for voluntary Chapter 11 bankruptcy. The stock in afternoon trading is up 2c to 80c. Dean's bankruptcy filing is not entirely surprising, given its ongoing operational issues, compressed cash flow, and large debt, Sharma writes. He believes the company's "structural headwinds and a dearth of additional potential bidders imply little hope for equity holders."
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