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Fly News Breaks for August 15, 2019
VMW, PVTL
Aug 15, 2019 | 07:33 EDT
RBC Capital analyst Matt Hedberg lowered his price target on Pivotal Software (PVTL) to $15 but kept his Outperform rating after the company confirmed it is in talks with VMWare (VMW) about being fully acquired at $15 per share. The analyst notes that the disclosure of details from all participants is still "limited", but sees this as a "favorable outcome" for Pivotal and would not expect another bidder given the companies' current relationship.
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