Report
Mark Taylor
EUR 147.86 For Business Accounts Only

Corporate Action - We Recommend UGL Shareholders Accept CIMIC Bid

The AUD 8.9 billion market-capped CIMIC Group intends an AUD 3.15 per share cash off-market takeover offer for UGL Limited, valuing the target at AUD 525 million, a near 50% premium to its prebid value. CIMIC describes the offer as free of conditions and final in the absence of a competing bid. The pity of another Australian company falling to a majority foreign-owned entity notwithstanding, our advice is for UGL shareholders to accept the bid in the absence of a higher offer. This includes the ...
Underlying
UGL Ltd.

Provider
Morningstar
Morningstar

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.

Analysts
Mark Taylor

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