William Blair downgraded Societal CDMO to Market Perform from Outperform after the company entered an agreement to be acquired by CoreRx for $1.10 per share in an all-cash transaction. Despite the premium, there may be some potential disappointment with the takeout price from long-term investors in the name, but Blair would be surprised to see enough resistance to stop the transaction from being completed or the emergence of another bidder, the analyst tells investors in a research note.
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