RBC Downgrades Gmarket (GMKT) to Sector Perform
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RBC Capital downgrades Gmarket (Nasdaq: GMKT) from Outperform to Sector Perform.
The downgrade follows news late Wednesday night that eBay (Nasdaq: EBAY) has agreed to purchase all the outstanding shares of Gmarket for $24 per share. Shares of Gmarket jumped nearly 20% on the M&A news.
Gmarket Inc. operates a retail e-commerce marketplace in the Republic of Korea.
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