JPMorgan Downgrades Ultimate Software (ULTI) to Neutral Following End to 'Go-Shop' Period
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Ultimate Software Announces Expiration of “Go-Shop” Period Under Merger Agreement
March 26, 2019 9:00 AM EDTWESTON, Fla.--(BUSINESS WIRE)-- The Ultimate Software Group, Inc. (NASDAQ: ULTI) (Ultimate), a leading global provider of human capital management (HCM) solutions in the cloud, today announced the expiration, as of 11:59 p.m. Eastern Time, on March 25, 2019, of the 50-day go-shop period under the previously announced Agreement and Plan of Merger, dated as of February 3, 2019, which provides for Ultimate to be acquired by an investor group led by Hellman & Friedman (H&F) in an all-cash transaction for $331.50 per share. At the direction of Ultimates board of directors, during the go-shop period, Ultimate and its... More
