Charles River Expands With Proposed Acquisition of Citoxlab for $510 Million; Increasing FVE to $100
Charles River Laboratories reported fourth-quarter top- and bottom-line results above our expectations and also announced its intent to acquire Europe-based Citoxlab for about $510 million in cash. After accounting for the Citoxlab acquisition and adjusting for a guided increase in near-term capital expenditures and time value of money, we are raising our fair value estimate by about 5% to $100 per share for narrow-moat Charles River.Fourth-quarter revenue was slightly higher than our expectat...
Charles River Laboratories International is a contract research organization. The company has a laboratory animal medicine and science to develop a portfolio of discovery and safety assessment services. The company's segments are: Research Models and Services, which supplies research models to the drug development industry; Discovery and Safety Assessment (DSA), which provides DSA services, including in vitro and in vivo studies, laboratory support services, and strategic non-clinical consulting and program management to support product development; and Manufacturing Support, which ensures the production and release of products manufactured by the company's clients.
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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