Anta's Proposed Amer Acquisition Is Valuation-Neutral; Market Missing Long-Term Picture
We have updated our valuation model to account for Anta’s nonbinding proposal to acquire Amber Sports. Our latest model assumes the acquisition is completed at the start of 2019. Anta’s intent to purchase Amer is strategically sound, and given potential synergies between the two businesses, we think its buyout offer is valuation-neutral. We reiterate our fair value estimate of HKD 55.00 on Anta Sports and encourage investors to focus on the long-term positives coming out of the acquisition.We a...
ANTA Sports Products is principally engaged in the manufacturing, trading and distribution of sporting goods, including footwear, apparel and accessories, in the People's Republic of China. As of Dec 31 2014, there were 7,662 ANTA Stores, 1,228 Kids sportswear series stores and 519 FILA stores in China, Hong Kong and Macao.
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.
We have operations in 27 countries.
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