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Fly News Breaks for December 15, 2015
JAH
Dec 15, 2015 | 06:29 EDT
Raymond James analyst Joseph Altobello downgraded Jarden (JAH) following the acquisition by Newell (NWL) for $60 per share. Altobello sees a number of risks from the deal that include a smaller an more centralized Newell acquiring a larger and more de-centralized Jarden, which is still digesting acquisitions, and the doubling of Newall's leverage ratio. The analyst sees near-term integration and balance sheet risk and recommends moving to the sidelines. Note Altbello also downgraded Newell to Market Perform from Outperform.
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