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Fly News Breaks for October 7, 2019
HI, MCRN
Oct 7, 2019 | 06:50 EDT
KeyBanc analyst Jeffrey Hammond downgraded Milacron to Sector Weight from Overweight saying he thinks the stock action will be heavily weighted on expectations that its merger with Hillenbrand (HI) will close on time in Q1 of 2020. At current prices, Milacron trades tight to the implied deal price of $16.50, which assumes $11.80 in cash and 0.1612 shares of Hillenbrand for every share of Milacron, Hammond tells investors in a research note.
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