Link Administration Fair Value Estimate Maintained at AUD 7.50 Following ACCC Announcement
We maintain our fair value estimate for Link Administration at AUD 7.50 per share. It follows the Australian Competition and Consumer Commission, or ACCC's, Statement of Issues regarding the proposed acquisition of New South Wales-government-owned superannuation administrator, Pillar. The ACCC will continue to investigate the merits of the transaction and announce its final decision on 15 December 2016.At the current market price of AUD 7.60, the Link share price has fallen to near our AUD 7.50...
Link Administration Holdings provides technology-enabled outsourced administration services to companies, asset owners, and trustees in Australia. Co. operates through Fund Administration, Corporate Markets, and Information, Digital, and Data Services segment. The Fund Administration segment provides administration services to superannuation funds; Corporate Markets offers a comprehensive and integrated corporate market offering that connects issuers with their stakeholders; and Information, Digital, and Data Services provides core services of development and maintenance of proprietary IT systems and platforms.
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.
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