ACCC Knocks-Back Woolworths Fuel Acquisition. No Change to our AUD 30 FVE
We make no change to our AUD 30 fair value estimate for no-moat Caltex. The Australian Competition and Consumer Commission, or ACCC, decided to oppose the proposed AUD 1.8 billion acquisition of the Woolworths fuel business by BP. Consequently, Caltex will for now continue to provide fuel supply to Woolworths in accordance with existing wholesale supply arrangements. Caltex shares jumped 5% on the news.If it had been approved, the BP deal would likely have impacted approximately 3.5 billion lit...
Caltex Australia is engaged in the purchase, refining, distribution and marketing of petroleum products and the operation of convenience stores throughout Australia. Co. has two segments: Supply and Marketing, which is an integrated transport fuel supply chain which sources refined products on the international market and sells Caltex fuels, lubricants, specialty products and convenience store goods through a network of Caltex, Caltex Woolworths and Ampol branded service stations, as well as through company owned and non-equity resellers and direct sales to corporate customers; and Lytton, which refines crude oil into petrol, diesel, jet fuel and products such as liquid petroleum gas.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.