Report
Chris Kallos, CFA

Competitive Offer Increases Bidding Tension, Healthscope Now in Play; Maintaining FVE

We maintain our AUD 2.40 fair value estimate for narrow-moat Healthscope following the news of an unsolicited, non-binding indicative proposal from Canadian Private Equity firm Brookfield Asset Management Inc. The offer is to acquire all of the shares in Healthscope by way of a scheme of arrangement at an indicative price of AUD 2.50 per share (the price will be reduced by any dividends announced or paid).
This represents a 6% premium to the current bid offer of AUD 2.36 proposed on April 26, 20...
Underlying
Provider
Morningstar
Morningstar

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.

Analysts
Chris Kallos, CFA

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