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Fly News Breaks for July 12, 2018
EDR
Jul 12, 2018 | 09:35 EDT
Sandler ONeill analyst Alexander Goldfarb downgraded EdR to Sell from Hold as he does not see a bid topping Greystar's $41.50 per share agreement as likely given the public nature of the transaction and a June Wall Street Journal report that read like a call for a "best and final" offer to be made. Given the stock is trading above the accepted deal price and that the dividend has been suspended unless the closing extends beyond October 15, he sees EdR's current share price as "maximized."
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