UPDATE: Stifel Nicolaus Downgrades WMS Industries to Hold on Pending Acquisition

Stifel Nicolaus downgraded WMS Industries (NYSE: WMS ) from Buy to Hold and removed the price target of $20.00. Stifel Nicolaus noted, "Given Scientific Games' (SGMS/Hold) pending offer to acquire WMS for $26 per share (announced on 1/31/13), coupled with our view that a competing bid appears unlikely, we are