Lake Street Capital Markets Downgrades Adept Technology (ADEP) to Hold
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Go back to Lake Street Capital Markets Downgrades Adept Technology (ADEP) to Hold
September 16, 2015 12:38 PM EDT
Roth Capital downgraded Adept Technology (NASDAQ: ADEP) from Buy to Neutral with a price target of $13.00 after the company agreed to be acquired by OMRON Corp for $13/share.
For an analyst ratings summary and ratings history on Adept Technology... More
September 16, 2015 7:31 AM EDT
OMRON Corporation and Adept Technology, Inc. (NASDAQ: ADEP) announced that the two companies have entered into an agreement whereby OMRON will acquire Adept.
OMRON plans to acquire 100% of the outstanding shares of Adept common stock through an all cash tender offer followed by a second-step merger. OMRON will offer Adept investors $13.00 per share of Adept common stock, which represents a 63% premium over the closing price for Adepts common stock on September 15, 2015. This values Adept at approximately $200 million. OMRON will fund the tender offer through cash on hand.
The tender offer is... More
