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Fly News Breaks for July 23, 2018
SYNT
Jul 23, 2018 | 12:36 EDT
Barrington analyst Vincent Colicchio sees a low possibility of a higher bid emerging for Syntel. The likelihood that another strategic buyer emerges is low due to the favorable valuation of this morning's deal, and the probability that a financial buyer emerges is even lower, Colicchio tells investors in a research note after Syntel signed a definitive agreement with Atos to be acquired for $41 per share in cash. The analyst keeps a Market Perform rating on Syntel.
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