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Fly News Breaks for May 8, 2018
GPT
May 8, 2018 | 07:12 EDT
Stifel analyst Simon Yarmak downgraded Gramercy Property Trust (GPT) to Hold from Buy after the company agreed to be acquired by Blackstone (BX) for $7.6B, or $27.50 per share. He does not believe another bidder coming over the top with a higher bid is the most likely scenario and thinks management is doing the right thing for shareholders.
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