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Fly News Breaks for December 20, 2019
CRCM, IAC
Dec 20, 2019 | 11:07 EDT
BTIG analyst Marvin Fong downgraded Care.com (CRCM) to Neutral from Buy. While the stock has been trading slightly above the $15 per share price that InterActiveCorp (IAC) agreed to pay to acquire Care.com, Fong views the odds of investors ultimately getting a better price as less than 25%, he said. Even if there were a new bidder, which he does not expect, that potential buyer could "perhaps pay a small premium to the current acquisition price, perhaps $16-$17," said Fong.
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