3M’s Latest Acquisition May Give the Firm a Stronger Footing in Helping Improve Patient Outcomes
Wide-moat 3M announced that it agreed to acquire the technology business of M*Modal in a deal valued at an enterprise value of $1.0 billion, or 10 times adjusted annual EBITDA for the 12 months following the transaction. The market reacted negatively to the deal, possibly due to the deal being dilutive to EPS by $0.10 next year, according to management. The press release doesn’t disclose either 3M’s target revenue growth assumptions, nor its expectations for synergies, but the 10 times multiple ...3M is a technology company. The company has four segments: Safety and Industrial, which consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules; Transportation and Electronics, which consists of electronics, automotive and aerospace, commercial solutions, advanced materials, and transportation safety; Health Care, which includes medical solutions, oral care, separation and purification sciences, health information systems, drug delivery systems, and food safety; and Consumer, which consists of home improvement, stationery and office supplies, home care, and consumer health care.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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