Solid assets and an improved balance sheet attract but long-term distribution growth may disappoint.
No-moat Duet Group received an unsolicited nonbinding indicative takeover proposal of AUD 3.00 per security in cash from Hong Kong-based Cheung Kong Infrastructure, or CKI. The proposal is subject to conditions including completion of due diligence and regulatory approval. The offer values Duet at more than 1.5 times regulated asset base (what the regulator says the assets are worth), adjusted for the unregulated Energy Developments business. This is a generous price, reflecting a 28% premium to...
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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