Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We 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 more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 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, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

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Equity Bottom-Up

Zoomlion Heavy Industry H / Equity Bottom-Up

We think the termination of the proposed acquisition of U.S.-based Terex will allow Zoomlion to redirect resources and efforts toward boosting its interest in the relatively resilient agricultural and environmental machinery segment.We had been sceptical regarding the acquisition, as the excessive valuation premium and added debt load to Zoomlion's already-weak balance sheet would not have been accretive to the firm's earnings or valuation, offsetting any potential benefits from synergies.Analyst: John Hu

We think the termination of the proposed acquisition of U.S.-based Terex will allow Zoomlion to redirect resources and efforts toward boosting its interest in the relatively resilient agricultural and environmental machinery segment.We had been sceptical regarding the acquisition, as the excessive valuation premium and added debt load to Zoomlion's already-weak balance sheet would not have been accretive to the firm's earnings or valuation, offsetting any potential benefits from synergies.Analyst: John Hu

Termination of Terex Acquisition Good for Zoomlion's Long-Term Prospects