Amazon Taps Whole Foods to Satisfy Its Hunger to Expand Its Grocery Platform; Shares Fairly Valued
On Nov. 16, wide-moat Amazon announced its intentions to acquire narrow-moat Whole Foods Market in a $13.7 billion all-cash deal, which equates to $42 per share or around a 25% premium to our fair value estimate and the prior market close. The transaction is valued at a forward enterprise value/EBITDA multiple of 11 times. We intend to raise our $33.50 fair value estimate for Whole Foods to the deal price (adjusted for the time value of money), as we don’t foresee another bid surfacing before th...
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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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