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UPDATE: Canaccord Genuity Suspends Coverage on China Kanghui Holdings Following Acquisition

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Canaccord Genuity suspended coverage on China Kanghui Holdings (NYSE: KH) as it believes the company is no longer trading on fundamentals following the announced deal with Medtronic (NYSE: MDT).

Canaccord Genuity commented, "After further contemplation and discussions with management, we would not expect another bid to materialize. We believe the transaction is likely to be completed in a few months given that China Kanghui is domiciled in the Cayman Islands, which removes the need for regulatory approval. Therefore, we are suspending our rating and price target as Kanghui's shares are no longer trading on fundamentals."

China Kanghui Holdings closed at $30.45 on Thursday.

Posted-In: Canaccord GenuityAnalyst Color News Termination M&A Intraday Update Analyst Ratings

 

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