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Fly News Breaks for October 27, 2015
DMND, K
Oct 27, 2015 | 07:31 EDT
Citi analyst David Driscoll says the reported $35-$40 per share purchase price for Diamond Foods (DMND) by Kellogg (K) looks rich. The analyst believes Diamond could be a "nice tuck-in acquisition" to further expand Kellogg's snacking portfolio, however. At a purchase price of $35 per Diamond share, Driscoll sees modest accretion to Kellogg. He keeps a Buy rating on the stock with an $80 price target.
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