Case | HBS Case Collection | February 2006 (Revised August 2006)

Auctioning Morningstar

by Malcolm P. Baker and James Quinn

Abstract

Morningstar, a publisher of data and ratings for mutual fund investors, is considering an auction-based approach to the company's upcoming IPO, with management weighing the risks and benefits of the auction approach vs. a traditional underwritten offering.

Keywords: Financial Strategy; Initial Public Offering; Stock Shares; Cost vs Benefits; Strategy; Auctions; Business or Company Management; Conflict of Interests; Publishing Industry;

Citation:

Baker, Malcolm P., and James Quinn. "Auctioning Morningstar." Harvard Business School Case 206-023, February 2006. (Revised August 2006.)