Raymond James Downgrades Dun & Bradstreet After Shareholders Approve Buyout

Raymond James cut its rating on Dun & Bradstreet (NYSE:DNB) from Strong Buy to Market Perform on June 13, following shareholder approval of the company’s acquisition by Clearlake Capital.

The shareholder vote cleared the way for the $9.15-per-share deal to move forward, effectively marking D&B’s exit from public markets. The company, known for its business analytics platform and 62% gross margins, was absorbed into Clearlake’s portfolio, leaving behind its ~$4 billion public valuation.

Raymond James Downgrades Dun & Bradstreet After Shareholders Approve Buyout

An executive presenting a business proposal in a modern open office space, surrounded by data analytics displays.

Raymond James had previously held out hope for a more favorable outcome for shareholders, implying the firm viewed the final price as underwhelming. With the transaction now locked in, analysts said the downgrade was simply a recognition that the upside scenario was no longer on the table.

No changes were made to D&B’s financial forecasts, which is consistent with the view that the downgrade is tied to the structure of the deal, not a shift in the company’s fundamentals.

The move effectively ends the public story for Dun & Bradstreet, with shares now anchored to the buyout price and little left to play for in the market.

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