Whole Earth Brands downgraded to Hold from Buy at Lake Street

Lake Street downgraded Whole Earth Brands to Hold from Buy with a price target of $4.88, down from $6, after the company announced an agreement to be acquired by an affiliate of Sababa Holdings for about $4.88 per share in cash. The acquisition “does not come as a surprise” given the company announced last June that it formed a special committee to review and evaluate the previous proposal by Sababa to take the company private at $4 a share, the analyst tells investors.