M&A News: Alphabet’s (GOOGL) $23 Billion Wiz Deal Falls Apart
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The negotiations for a potential $23 billion acquisition between Alphabet and Israeli cybersecurity firm Wiz have collapsed, potentially due to antitrust concerns. Wiz has now announced its intention to pursue an IPO and aims to reach $1 billion in annual recurring revenue before going public. Despite these setbacks, Wall Street analysts remain optimistic about Alphabet's prospects, with a consensus rating of Strong Buy and an average price target implying an upside potential of 11.63%.
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