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Fly News Breaks for July 24, 2015
PSO
Jul 24, 2015 | 08:52 EDT
After Pearson agreed to sell The Financial Times to Nikkei, Bernstein says that the deal implies a valuation for The FT Group of over GBP1.2B. The firm says that the high price offered by Nikkei significantly mitigated its previous concerns about the deal, although it still believes that the decision on how to utilize the cash could become a distraction for the company. Bernstein keeps a $170 price target and Outperform rating on the shares.
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