UPDATE: Jefferies Drops Coverage on Emergency Medical Services

Jefferies is out with its report today on Emergency Medical Services

, dropping its coverage on EMS. In a note to clients, Jefferies writes, "We are dropping coverage of Emergency Medical Services following the completion of the company's acquisition by affiliates of private equity firm Clayton Dubilier & Rice at a price of $64.00 per share. Our last rating on EMS was Hold with a $73 per share price target."