McMillan Under Review Following Its Proposed Company Transforming Takeover of Eclipx
We expect no-moat McMillan Shakespeare’s proposed takeover of Eclipx Group will be company transforming--not only due to its size but also because it will fundamentally change the company’s underlying business and funding structure. The new combined group will be a more capital-intensive asset management business, with new funding sources from securitisation vehicles. While we believe there are significant opportunities for both economies of scale and revenue synergy benefits, we also think the ...McMillan Shakespeare provides capabilities in novated leasing, salary packaging, associated Fringe Benefits Tax administration and management, operating leases and asset management. Co.'s segments are: Group Remuneration Services, which provides administrative services in respect of salary packaging and facilitates the settlement of motor vehicle novated leases for customers; Asset Management, which provides financing and ancillary management services associated with motor vehicles, commercial vehicles and equipment; and Retail Financial services provides retail brokerage services, aggregation of finance originations and extended warranty cover.
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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