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The withdrawal of the buyout proposal leaves potential for higher market valuation, as analysts have raised price targets significantly above the withdrawn offer. Historical context shows that buyout withdrawals often result in positive price movements, particularly when accompanied by strong analyst support.
What happened, with direct paths to the underlying reporting
Grindr's majority shareholders withdrew a $3.5 billion buyout proposal. Analysts now target Grindr's share price between $21 and $26. Grindr shares rose 1.5% following the buyout withdrawal announcement. Majority shareholders hold 64% and continue purchasing shares in the open market. Grindr's net profit increased by 25% in Q3 this year.
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