Piper Jaffray Maintains Overweight on Animal Health Int'l (AHII)

Piper Jaffray is out with its report today on Animal Health Int'l AHII, maintaining Overweight after AHII announced that it will be acquired by Lextron.

In a note to clients, Piper Jaffray writes, "AHII announced on Monday morning that the company would merge with privately held Lextron in a deal backed by investment funds affiliated with private equity firm Leonard Green & Partners. The all cash offer price of $4.25/share represents a premium of approximately 11% over last Friday's closing price and implies an enterprise value of $251 MM ($111 MM in equity). We have an Overweight rating on shares of AHII."

Shares of AHII closed Monday at $4.19.