Fermium Research analyst Frank Mitsch downgraded Univar (UNVR) to Hold from Buy with a price target of $36.15, up from $35. The firm said that the deal with Apollo (APO) was not a great surprise, though it was surprised at the $36.15 per share figure has it felt comfortable that the quity could have reached that level excluding a takeover premium. Fermium added, though, that it was keenly aware of the issues regarding its position as a bit of a unicorn with no natural U.S.-based comps.
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Published first on TheFly
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Read More on UNVR:
- Univar price target raised to $36 from $33 at Barclays
- Univar downgraded to Hold from Buy at Vertical Research
- Univar Rises on $8.1 Acquisition by Apollo
- Univar Solutions to be Acquired by Apollo Funds for $8.1 Billion
- Univar to be acquired by Apollo Global funds for $8.1B
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