UPDATE: Barrington Research Downgrades Archipelago Learning to Perform

Barrington Research lowers its rating on Archipelago Learnings

to Perform following the announcement that the company will be acquired by PLATO Learning. Barrington Research notes, "While the acquisition price ($11.10) is below our published 12 -month price target of $12, we suspect it is likely to go through as propos ed given the “extended” evaluation, which included a formal competitive process, as well as Providence's (49%) support. We are, as such, reducing our investment rating to MARKET PERFORM but wouldn't recommending selling shares as we can't rule out a competing bid for this high-quality asset." ARCL closed at $11.02 a share on Friday.