William Blair analyst Jeff Schmitt downgraded Envestnet to Market Perform from Outperform without a price target after the company entered into a definitive agreement to be acquired by Bain Capital in a transaction valuing Envestnet at $4.5B, or $63.15 per share.
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Read More on ENV:
- Envestnet’s Strategic Merger and Upcoming Delisting
- ENVESTNET, LEADING WEALTH TECHNOLOGY PLATFORM, ANNOUNCES $4.5 BILLION TAKE-PRIVATE TRANSACTION WITH BAIN CAPITAL
- Envestnet up 1% as Bain said near takeout at close to current market value
- Bain near deal to buy Envestnet at close to current market value, Reuters says
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