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Fly News Breaks for May 9, 2018
COHU, XCRA
May 9, 2018 | 08:13 EDT
As reported earlier, Needham analyst Y. Edwin Mok downgraded Xcerra (XCRA) to Hold from Buy after the announcement that it is being acquired by Cohu for $9 per share in cash and 0.21 a share of Cohu (COHU) stock. Mok says there is limited upside from the deal's combined price of $13.92 per share and does not see the possibility of another bidder emerging. While the analyst expects some regulatory scrutiny given the product overlaps of the two companies, he ultimately sees the deal winning approval.
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