Yahoo Completes Sale to Verizon; Altaba Will Be a Closed-End Management Company; Raising FVE to $55
Yahoo completed the sale of its core business to Verizon for approximately $4.48 billion. The firm will be called Altaba, Inc. (AABA) starting June 16, 2017, and will begin trading as a closed-end management company on June 19, 2017. We now value Altaba at $55 per share, mainly due to Morningstar’s higher valuation of Alibaba, in which Altaba has a 15% stake. With the shares trading near our new fair value estimate, we recommend a wider margin of safety before investing in this no-moat name.Our...
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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