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Fly News Breaks for May 15, 2018
MITL
May 15, 2018 | 08:42 EDT
Craig-Hallum analyst George Sutton downgraded Mitel to Hold from Buy saying that given the structure of the deal in place for Searchlight, which includes debt financing of $1.38B and equity sponsor commitments of $700M, there is the potential, but in his view, limited likelihood, that this single remaining party concludes in a higher bid. The analyst also lowered his price target on the shares to $11.15 from $14.
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