Community Health Systems (CYH): Shareholder Rights Plan Fights A Take Under - Mizuho
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Mizuho Securities analyst, Sheryl Skolnick, reiterated her Neutral rating on shares of Community Health (NYSE: CYH) after the company adopted a short-term shareholder rights plan in response to the accumulation of a 13.76% position by a single holder. The company says it is in very preliminary talks with private equity. The stock went down on the news making it clear that CYH holders understand the risk of take-under and the analyst is skeptical of a PE buyout at a premium.
No change to the price target of $10.50
Shares of Community Health closed at $11.31 yesterday.
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