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Fly News Breaks for February 12, 2019
ELLI
Feb 12, 2019 | 10:29 EDT
Needham analyst Mayank Tandon downgraded Elli Mae to Hold from Buy after the company announced an agreement to be acquired by Thoma Bravo for $99 per share in cash. In a research note to investors, Tandon says he views the outcome as "favorable" for shareholders and views a higher bid as "unlikely."
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