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Broadridge Completes Acquisition of Morningstar 15(c) Data Unit

Broadridge announced that it has completed its acquisition of Morningstar’s 15(c) board consulting services business. In a release, Broadridge said the acquisition strengthens its ability to offer “independent, verifiable data that mutual fund boards of directors rely on to fulfill their governance responsibilities.” Terms of the transaction were not disclosed. The company said that Morningstar’s 15(c) data will be integrated into Broadridge’s board reporting system, providing clients the ability to benchmark funds using both Morningstar and Lipper classification systems within their reports and to leverage the expertise of the expanded Broadridge 15(c) team.