Craig-Hallum analyst Chad Bennett downgraded Momentive to Hold from Buy with a $9.50 price target after the company announced it entered into an agreement to be acquired by a consortium led by Symphony Technology Group for $9.46 per share. The transaction is expected to close in Q2 or Q3 of this year and is subject to approval by Momentive shareholders. The transaction is not subject to a financing condition as Craig-Hallum believes the financing is secured to complete the transaction.
Published first on TheFly
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