Yahoo! (YHOO): Hack Not A Material Adverse Change - SunTrust's Peck
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SunTrust Robinson Humphrey analyst, Bob Peck, stated that he expects the Yahoo! (NASDAQ: YHOO) core sale to proceed amid news merger partner Verizon (NYSE: VZ) stated it was notified 2 days ago, and is currently evaluating the impact and could very well accept this as a cost of being in business.
The sale agreement does not discuss price adjustments upon change in business outlook. However, the analyst believes the MAC likely is NOT triggered given the exclusion for "any failure by Yahoo to meet its internal or published projections, budgets, plans, or forecasts of its revenues, earnings, or other financial performance or results of operations."
No change to the Neutral rating.
Shares of Yahoo! closed at $44.15 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Mergers and Acquisitions
Related EntitiesSunTrust Robinson Humphrey, Earnings, Definitive Agreement
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