Stephens Downgrades UTi Worldwide (UTIW) to Equal Weight
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October 12, 2015 5:35 PM EDT
FBR Capital downgraded UTi Worldwide (NASDAQ: UTIW) from Outperform to Market Perform with a price target of $7.00 (from $14.00) saying the see limited upside on the heels of the DSV A/S $7.10 takeover bid.
For an analyst ratings summary and ratings history on... More
October 9, 2015 6:11 AM EDT
UTi Worldwide (Nasdaq: UTIW) announced it has entered into a definitive agreement to be acquired by DSV for $7.10 in cash per ordinary share. This represents a 34% premium over the 30-day volume weighted average trading price for the ordinary shares and a 50% premium relative to UTi's closing trading price on October 8, 2015. The transaction, which was unanimously approved by both UTi and DSV's Boards of Directors, is valued at approximately $1.35 billion.
Ed Feitzinger, Chief Executive Officer of UTi, stated, "We are very excited to be joining forces with DSV, which we believe will strengthen our... More
