Corporate Action: JB Hi-Fi Buys The Good Guys; Rights Issue at Premium to Our Revised Fair Value
No-moat-rated JB Hi-Fi has a binding agreement to acquire The Good Guys for AUD 894 million, including transaction fees. The market has anticipated a transaction involving The Good Guys for some time, and JB Hi-Fi said it was negotiating a deal since May 2016.In our opinion, relative to current market valuations, the transaction is fairly priced at 12.0 times fiscal 2017 estimated EBIT, compared with an EV/2017 EBIT of 13.1 for the combined entity, or MergeCo, based on the theoretical ex-rights...
JB Hi Fi is engaged in the retailing of home consumer products. Co. provides a range of brands with particular focus on consumer electronics, software including music, games and movies, whitegoods and appliances.
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.