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Fly News Breaks for May 20, 2019
ZAYO
May 20, 2019 | 07:10 EDT
SunTrust analyst Greg Miller downgraded Zayo Group to Hold and lowered his price target to $35 from $38 after last week's announcement of its acquisition by Digital Colony and EQT at that price. The analyst notes that while a competing bid cannot be ruled out, its been nearly 6 months since speculation first emerged about private equity interest in Zayo Group. Miller adds that the valuation on the transaction is an "agreeable one" and expects the deal to close at the agreed-upon price in the next 12 months.
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