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Fly News Breaks for March 26, 2019
Mar 26, 2019 | 10:59 EDT
As previously reported, RBC Capital analyst Ross MacMillan downgraded Ultimate Software to Sector Weight from Outperform, with a $331.50 price target to match Hellman and Friedman bid. The analyst cited the end of the "Go-Shop" period and no additional bids, despite 22 inquiries and signed NDAs with three parties. MacMillan notes that he thought there was a reasonable probability of an additional bid.
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