UPDATE: KeyBanc Terminates Coverage of Cost Plus Post Acquisition

KeyBanc terminates its Hold rating on Cost Plus

following its acquisition by Bed Bath & Beyond

. KeyBanc comments, "We are terminating coverage of Cost Plus, Inc. (CPWM-NASDAQ). The Company was acquired by Bed Bath & Beyond Inc. (BBBY-NASDAQ) and is no longer trading. Effective immediately, our HOLD rating issued for this security should not be relied upon going forward. … On June 29, 2012, it was announced that the tender offer from Bed Bath & Beyond Inc. for the outstanding shares of common stock of Cost Plus, Inc. was successful. As such, we are terminating coverage of CPWM." CPWM closed at $22 on Friday.