UPDATE: Stifel Downgrades ViroPharma to Hold, Removes PT Following News of Proposed Acquisition by Shire Pharmaceuticals

In a report published Tuesday, Stifel analyst Stephen Willey downgraded the rating on

from Buy to Hold, and removed the $47.00 price target. In the report, Stifel noted, “We are downgrading shares of Viropharma Inc. as a result of the company's recent announcement that its Board of Directors have unanimously agreed to a proposed acquisition by Shire Pharmaceuticals (SHPG: $135.01, Not Covered). We believe the proposed acquisition price of $50/share fairly values the company, we do not expect any additional bidders to emerge, and we expect the deal to close by YE13 without any concerns on the manufacturing or antitrust fronts.” ViroPharma closed on Monday at $49.48.