JonesResearch downgraded Point Biopharma (PNT) to Hold from Buy without a price target after the company announced a definitive agreement for Eli Lilly (LLY) to acquire it via a tender offer priced for $12.50 per share in cash. The firm does not anticipate pushback during any Federal Trade Commission merger reviews and believes the deal is appropriately valued. As such, the analyst does not expects competing bids to emerge.
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Read More on PNT:
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