MYOB Maintaining Its Market Position as KKR Acquisition Approaches
We expect KKR’s takeover offer for narrow-moat-rated MYOB to succeed following the board’s decision to recommend the offer to shareholders. We have reduced our fair value estimate to the AUD 3.40 per share offer price as shareholders are now unlikely to be able to realise the stand-alone AUD 3.94 fair value. Although the KKR offer permits MYOB to seek superior offers until Feb. 22, 2019, we think it’s unlikely an alternative offer will emerge as KKR’s 19.9% shareholding complicates matters and n...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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