APN Outdoor Brings Home a Good Report Card for Soon-to-Be French Parent
APN Outdoor's fiscal 2018 first-half result was overshadowed by the Australian Competition and Consumer Commission's, or ACCC's, clearance for JCDecaux to acquire the group. It is a decision that we expected and is why we raised our fair value estimate for APN in June 2018, to JCDecaux's AUD 6.70 per share offer. With this all-cash consideration coming their way, shareholders in the no-moat-rated group could be forgiven for treating the June-half result with indifference.However, the soon-to-be...
APN Outdoor Group Limited is an Australia-based provider of advertising services. The Company operates in the Out-of-Home advertising market segment. The Company supplies Out-of-Home media and advertising services at sites in Australia and New Zealand. It offers digital billboards, static roadside billboards, transit advertising, rail advertising and airport advertising. It has a geographically diversified outdoor advertising network, which operates in New South Wales, Victoria, Queensland, Western Australia, South Australia, the Australian Capital Territory, Tasmania and New Zealand.
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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