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Fly News Breaks for June 3, 2016
QLIK
Jun 3, 2016 | 06:09 EDT
Brean Capital analyst Yun Kim downgraded Qlik Technologies to Hold after the company agreed to be acquired by Thoma Bravo for $30.50 per share, or $3B. The analyst believes the buyout multiples "significantly undervalue" Qlik and notes they are "significantly below" the recent multiples paid by acquirers in the software industry. The price shows there is very little interest from both financial buyers and strategic buyers, Kim tells investors in a research note.
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