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Fly News Breaks for October 20, 2015
Oct 20, 2015 | 06:54 EDT
Northland analyst Gus Richard downgraded PMC-Sierra (PMCS) to Market Perform citing valuation after Microsemi (MSCC) offered to buy the company for $11.50, topping the $10.50 per share bid from Skyworks (SWKS). The analyst does not expect a bidding war between the two potential acquirers. He has an $11 price target for PMC-Sierra.
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