Jefferies analyst Hannes Leitner downgraded Network International (NWITY) to Hold from Buy with a price target of 400 GBp, up from 360 GBp, after the company received two non-binding offers by private equity. The chances for both bidders walking away seem low at this point, the analyst tells investors in research note. The firm’s new price target s in-line with the latest non-binding offer by Brookfield (BAM, following a non-binding offer by the consortium this week. The current share price suggests the market sees a good chance that the latest offer, or something modestly above that, will now be successful, says Jefferies.
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