William Blair analyst Dylan Becker downgraded Clearwater Analytics (CWAN) to Market Perform from Outperform without a price target after the company entered into an agreement for an all-cash take-private deal at $24.55 per share. The deal is expected to close in the first half of 2026. While the agreement includes a go-shop period ending on January 23, the chance of additional bidders or an upwardly revised bid is unlikely, the analyst tells investors in a research note.
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