Maxim cuts Logility to Hold on Aptean buyout, sees superior bid unlikely

Maxim analyst Matthew Galinko downgraded Logility (LGTY) to Hold from Buy after Aptean and partners agreed to acquire Logility for $14.30 per share in an all-cash transaction. The company’s board of directors unanimously approved the definitive agreement and recommended shareholders vote in favor of the transaction, following an auction process that began in late-Summer 2024, and the firm contends that the acquisition is likely to close as announced in Q2 of 2025, with the view that a superior bid is unlikely given several months that potential acquirers were likely aware that the asset became available, the analyst tells investors in a research note.