BofA moved to No Rating after Telus Digital (TIXT), formerly known as Telus International, announced that it had received a non-binding indication of interest from Telus Corporation (TU) to fully acquire the remaining Telus Digital shares for $398M or $3.40 per share in cash. The firm, which notes that it is “not surprised to see this announcement” given the string of announcements of take-privates in the space and recent valuation, is moving to No Rating as it believes the stock is no longer trading on fundamentals.
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