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Fly News Breaks for February 28, 2019
MKGAY, VSM
Feb 28, 2019 | 07:40 EDT
Loop Capital analyst Chris Kapsch downgraded Versum Materials (VSM) to Hold and kept his $53 price target after the second proposal to acquire the company from Merck KGaA (MKGAY) at $48 per share. The analyst contends however that due to the "strategic nature and financial wherewithal of this particular bidder", the bid price could still move "materially higher".
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