We Believe Current Bid Speculation Surrounding Generali Is Unlikely
There has been a lot of speculation in the media over the past few days surrounding a potential bid for Generali Assicurazioni; during this time, Generali shares have rallied 13%. In defence against a potential bid from Intesa Sanpaolo in a possible combination with Allianz, Generali has bought 3.01% of Intesa shares in a move that protects it from a bid approach under cross-holding rules. At present, we believe a successful takeover approach is unlikely, and we therefore maintain our fair value...Allianz is engaged in the provision of a range of insurance and asset management products and services. Co. has three business segments: Property-Casualty, which provides insurance products to both private and corporate customers, including motor liability and own damage, accident, general liability, fire and property, legal expense, credit and travel insurance; Life/Health, which provides life and health insurance products including annuities, endowment and term insurance, unit-linked and investment-oriented products and private health and supplemental health and long-term care insurance; and Asset Management, which provides institutional and retail asset management products and services.
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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