Wedbush Downgrades Telvent Git (TLVT) to Neutral; Acquisition by Schneider Electric Represents a Full Valuation
Get Alerts TLVT Hot Sheet
Price: $39.47 --0%
Rating Summary:
0 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
Rating Summary:
0 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
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Wedbush downgraded Telvent Git (NASDAQ: TLVT) from Outperform to Neutral. PT lowered from $40 to $31.
Wedbush analyst said, "Schneider has agreed to pay $40 per share to acquire
Telvent in a tender expected to take place in mid June, closing in 3Q11, and with a total transaction value of around $2 billion. Telvent’s Board of Directors has approved the deal and the company’s 40% shareholder Abengoa has also agreed to irrevocably tender its shares to Schneider. Completion of the transaction is subject to anti-trust approval from both U.S. and European authorities, from whom we do not anticipate any difficulties given a vibrant competitive landscape."
"We believe other bidders have previously considered purchasing the assets,
and we do not expect additional offers to materialize."
For more ratings news on Telvent Git click here and for the rating history of Telvent Git click here.
Shares of Telvent Git closed at $39.73 yesterday.
Wedbush analyst said, "Schneider has agreed to pay $40 per share to acquire
Telvent in a tender expected to take place in mid June, closing in 3Q11, and with a total transaction value of around $2 billion. Telvent’s Board of Directors has approved the deal and the company’s 40% shareholder Abengoa has also agreed to irrevocably tender its shares to Schneider. Completion of the transaction is subject to anti-trust approval from both U.S. and European authorities, from whom we do not anticipate any difficulties given a vibrant competitive landscape."
"We believe other bidders have previously considered purchasing the assets,
and we do not expect additional offers to materialize."
For more ratings news on Telvent Git click here and for the rating history of Telvent Git click here.
Shares of Telvent Git closed at $39.73 yesterday.
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