ISI Group says a Life Technologies LBO is highly unlikely and less than 10% ISI Group notes Life Technologies's 8-K included language of an "annual strategic review" which the firm believes softens its stance and does not constitute a formal announcement of a review of strategic alternatives. The firm believes Life Technologies high debt levels makes an LBO challenging and that a restructuring or recapitalization is the most likely outcome.
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Life Technologies downgraded to Hold from Buy at Jefferies Jefferies downgraded Life Technologies citing the takeout bid by Thermo Fisher after assuming coverage of the stock. The firm raised its price target for shares to $76 from $58.