Brean Murray Downgrades Intervoice (INTV) to Hold, Following Buyout
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Brean Murray downgrades Intervoice (NASDAQ: INTV) from Buy to Hold and withdraws their $10 price target.
The firm believes that the agreement for Convergys (NYSE: CVG) to acquire Intervoice for $335 million in cash, or $8.25 per share "is highly likely to close, as planned, in 3Q08."
Intervoice, Inc., together with its subsidiaries, provides converged voice and data solutions for the network and enterprise markets.
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