Morningstar Research - acquisition of the fund data business of Standard & Poor's
Type of assessment
Informal Review
Reference
32015
Acquirer(s)
Morningstar Research
Target(s)
Fund data business of Standard & Poor's
Industry
Managed fund data
Summary
Morningstar Inc announced that it had acquired the fund data business of Standard & Poor's Ltd on 16 March 2007.
Outcome of assessment
Not opposed
Total review days *
17
Commenced public review
6th June 2008
Date completed
1st July 2008
Market definition
The ACCC considered the acquisition in the context of the national market for licensed data feeds on Australian mutual funds.
Competition analysis
The ACCC considered the acquisition unlikely to substantially lessen competition due to the presence of alternative suppliers and the relatively low barriers to entry, in particular for providers of other financial services information.
Review timeline
Date
Event
16th March 2007
Morningstar Research announced that it had completed the acquisition of Standard & Poor's fund data business.
6th June 2008
ACCC commenced review under the Merger Review Process Guidelines.
20th June 2008
Closing date for submissions from interested parties.
1st July 2008
ACCC announced it would not oppose the proposed acquisition.
* Total Review days = Total business days less public holidays and time during which the review was suspended.
