Higher Takeover Bid from China-Based Fund Manager Means Sirtex Now in Play; Maintaining our FVE
In a surprise move, Sirtex has received an unsolicited nonbinding offer of a AUD 1.87 billion bid from China-based alternative asset fund manager CDH Investments. This equates to AUD 33 per share and comes ahead of next week’s shareholder meeting which was to vote on accepting the AUD 28 per share offer made by Varian Medical Systems, Inc. on Jan. 30, 2018.According to Sirtex management, the indicative proposal is subject to a number of conditions including approval by CDH's Investment Committe...
Sirtex Medical is a global life-sciences company based in Australia. Co. is engaged in developing and delivering effective oncology treatments using novel small particle technology. Co.'s main product is a targeted radioactive treatment for liver cancer called SIR-Spheres® Y-90 resin microspheres. SIR-Spheres Y-90 resin microspheres are a medical device used in interventional oncology and delivered to the liver via Selective Internal Radiation Therapy.
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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