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Fly News Breaks for December 15, 2016
GRFS, HOLX
Dec 15, 2016 | 07:51 EDT
Canaccord analyst Mark Massaro said he was surprised Grifols (GRFS) agreed to pay "lofty 7.9x multiple" of $1.85B in cash to acquire Hologic's (HOLX) share of their joint blood screening business. Massaro believes the deal makes long-term strategic sense for Hologic and should drive long-term shareholder value. He keeps a Buy rating and $48 price target on Hologic shares.
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