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UPDATE: Aegis Capital Downgrades 3SBio Post Deal to Go Private

Related SSRX
3SBio Shareholders Approve Amended Merger Agreement
UPDATE: 3SBio Enters 'Go Private' Deal, Consideration Raised to $2.3857/Share or $16.70/ADS

Aegis Capital downgraded 3SBio (NASDAQ: SSRX) from Buy to Hold and announced a $15.40 price target.

Aegis Capital commented, "Early this morning, 3SBio reported that it had agreed on the terms of a proposal to go private under the terms of an agreement and plan of merger with Decade Sunshine Ltd., a limited liability corporation domiciled in the Cayman Islands, and Decade Sunshine Merger Sub, a direct wholly-owned subsidiary of Decade Sunshine Ltd. … While we maintain our view that the current merger terms substantially undervalue the company, at this juncture we are downgrading 3SBio shares from a Buy to a Hold rating and instituting a price target of $15.40 per share."

3SBio closed at $13.79 on Thursday.

Latest Ratings for SSRX

Feb 2013Aegis CapitalDowngradesBuyHold
Sep 2012Aegis CapitalInitiates Coverage onBuy
Aug 2012OppenheimerMaintainsOutperform

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Posted-In: Aegis CapitalAnalyst Color Downgrades Analyst Ratings


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