Verisk shares fall after Delaware ruling on AccuLynx deal
Verisk VRSK.O shares fell as much as 5.7%, and were last down 2.5% at $187.
A Delaware judge on Friday ordered the data analytics firm to try completing its planned $2.35 billion acquisition of roofing software maker AccuLynx, more than seven months after Verisk pulled the plug on the deal.
"We .... strongly disagree with the decision. It is possible to appeal, among other next steps, and we are evaluating our options" - VRSK
"We expect VRSK to appeal and seek a stay ... However, this is a negative for VRSK, given it has strategically moved on from the deal and introduces the potential to need to move forward with an expensive acquisition" - Evercore analyst David Motemaden
11 of 20 brokerages rate VRSK "buy" or higher and 9 "hold"; median PT $235 - data compiled by LSEG
As of last close, VRSK stock was down 14.2% year to date.
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