Manikay Partners Unlikely to Derail KKR Acquisition of MYOB
We don’t expect U.S.-based hedge fund Manikay Partners to derail KKR’s takeover of narrow-moat-rated MYOB. We have maintained our fair value estimate at KKR’s AUD 3.40 per share offer price and continue to believe the shares are fairly valued. We think the risk of the offer collapsing is low but greater than the chance of an alternative higher offer. Considering the AUD 3.39 market price is already at the offer price, MYOB shareholders can avoid the opportunity cost of waiting for the offer to c...MYOB Group is engaged in development and publishing of software and the provision of services for small and medium enterprises, including accountants in public practice. Co.'s operating segments comprise of SME Solutions, which provides business management software and services to small and medium enterprises; Practice Solutions, which provides business software and services to accounting professionals in practice; and Enterprise Solutions, which provides enterprise resource planning and human resource management software and services to medium and large enterprises.
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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