) to sell, from hold.
Horizon's share price soared Monday on news that Dean Foods would buy the remaining 87% stake in the organic milk manufacturer for $24 a share and the assumption of about $40 million in Horizon debt.
Analyst Christopher Growe Horizon Organics is quite a volatile stock, and is not for the faint of heart -- as evidenced by recent stock-price movement. He says he downgraded ahead of the closing of the buyout deal; Horizon Organics's stock price is less than 1% from the purchase price and he doesn't anticipate any competing bids from other companies.
Although Growe expects the deal to receive regulatory approval from the Dept. of Justice, he says selling Horizon Organics shares now assures investors of receiving nearly a full value in this transaction.