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RHT

Red Hat

$177.13

0.03 (0.02%)

, IBM

IBM

$121.13

1.77 (1.48%)

17:45
12/10/18
12/10
17:45
12/10/18
17:45

Red Hat sets January 16 special meeting for vote on IBM merger

Red Hat, Inc. (RHT) announced that it had established a record date of Dec. 11, 2018, and a special meeting date of Jan. 16, 2019, for a meeting of its stockholders to, among other things, consider and vote on a proposal to adopt the previously announced Agreement and Plan of Merger, dated as of Oct. 28, 2018, by and among Red Hat, International Business Machines Corporation (IBM) and Socrates Acquisition Corp., a wholly-owned subsidiary of IBM, pursuant to which IBM will acquire Red Hat for $190.00 per share in an all-cash transaction. The board of directors of Red Hat recommends that stockholders vote in favor of the merger with IBM. Red Hat stockholders as of the close of business on the record date of Dec. 11, 2018, will be entitled to receive notice of, and to vote at, the special meeting. Red Hat continues to expect the transaction to close in the latter half of 2019.

RHT

Red Hat

$177.13

0.03 (0.02%)

IBM

IBM

$121.13

1.77 (1.48%)

  • 03

    Mar

RHT Red Hat
$177.13

0.03 (0.02%)

12/03/18
STFL
12/03/18
NO CHANGE
Target $190
STFL
Hold
After proxy, Stifel says Google could come back with bid for Red Hat
After Red Hat (RHT) filed a proxy on Friday evening related to its pending acquisition by IBM (IBM) that mentioned three other parties interested in a potential purchase, Stifel analyst Brad Reback said he believes that "Party A" in the filing is Microsoft (MSFT), that "Party B" is Google (GOOGL) and that "Party C" is Amazon (AMZN). If he is correct with that assessment of the identities of the parties, it is a clear indication that Red Hat shopped itself to the "logical players" during the negotiation process, said Reback, who believes there is still a chance Google may come back and make a bid for Red Hat given the change of leadership in the Google Cloud unit. The analyst, who views Red Hat as a unique asset with strong enterprise relationships, hybrid cloud capabilities, and an open source heritage, keeps a Hold rating and $190 price target on the stock given the existing deal with IBM.
12/03/18
NEED
12/03/18
NO CHANGE
NEED
Hold
Red Hat filing reinforces view of IBM's offer as 'highest bid', says Needham
Needham analyst Jack Andrews kept his Hold rating on Red Hat (RHT), saying the proxy filed by the company on Friday reinforces his view that the acquisition offer by IBM (IBM) "likely" represents the highest bid available. The analyst cites the filing's disclosure of "specifics around previous offers, a termination fee of $975M payable by Red Hat, and a provision making the merger independent of IBM finding financing". Andrews also maintains his view that no regulatory hurdles or complications should hamper this deal.
11/05/18
KEYB
11/05/18
DOWNGRADE
KEYB
Sector Weight
Red Hat downgraded to Sector Weight from Overweight at KeyBanc
KeyBanc analyst Alex Kurtz downgraded Red Hat (RHT) to Sector Weight from Overweight after IBM (IBM) announced an acquisition offer for $190 per share. The analyst sees minimal upside to the takeout price of $190, or about $34B in enterprise value, for a transaction that will close in 2H19 and sees minimal potential for another strategic acquirer making a second, larger offer.
11/05/18
NEED
11/05/18
DOWNGRADE
NEED
Hold
Red Hat downgraded to Hold from Buy at Needham
Needham analyst Jack Andrews downgraded Red Hat (RHT) to Hold and removed his prior $183 price target after the company's announced acquisition by IBM (IBM). With both boards having approved the deal, the analyst expects the purchase to close in the second half of 2019, adding that the remaining upside for the stock to the $190 per share deal price is insufficient to continue with his Buy rating.
IBM IBM
$121.13

1.77 (1.48%)

11/06/18
JMPS
11/06/18
INITIATION
Target $29
JMPS
Outperform
Anaplan initiated with an Outperform at JMP Securities
JMP Securities analyst Patrick Walravens initiated Anaplan (PLAN) with an Outperform rating and $29 price target, stating that he believes it is well-positioned to increase its share of the worldwide performance management and analytic applications software market from about 1% today to about 3% in 2022. He sees the company being able to take share from Excel-based solutions, homegrown products, and incumbents such as Oracle (ORCL), IBM (IBM), and SAP (SAP), Walravens added.

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AES

AES Corp.

$18.50

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ICE

IntercontinentalExchange

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MAN

ManpowerGroup

$92.05

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RHI

Robert Half

$58.01

-0.38 (-0.65%)

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HTZ

Hertz

$15.37

0.265 (1.76%)

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CAR

Avis Budget

$28.71

0.16 (0.56%)

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AMD

AMD

$39.52

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ARMK

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HRB

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BV

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ROL

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ServiceMaster

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PINE

Alpine Income Properties

$0.00

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OTTW

Ottawa Bancorp

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MSFT

Microsoft

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SITC

Site Centers

$14.28

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UAL

United Airlines

$90.96

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FAST

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$35.15

-0.1 (-0.28%)

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Grainger

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Grainger

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SPGI

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GPS

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LB

L Brands

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WCC

Wesco

$53.09

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MAN

ManpowerGroup

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