S&P Global in deal to buy IHS Markit

S&P Global is buying IHS Markit in a 44 billion US dollar (£32.9 billion) all-stock deal that brings together two of the largest data providers to Wall Street.

Each share of IHS Markit common stock will be exchanged for a fixed ratio of 0.2838 shares of S&P Global stock.

Current S&P Global shareholders will own approximately 67.75% of the combined company, while shareholders of IHS Markit, based in London, will own about 32.25%.

The transaction puts IHS Markit’s enterprise value at 44 billion dollars, including 4.8 billion dollars (£3.5 billion) of debt.

Douglas Peterson
Douglas Peterson, the CEO of S&P Global, will hold that title at the combined company (AP)

The combined company will be headquartered in New York, where S&P Global is based, with a substantial presence in key global markets across North America, Latin America, EMEA and Asia Pacific.

Douglas Peterson, the CEO of S&P Global, will hold that title at the combined company. Lance Uggla, chairman and CEO of IHS Markit, will become a special adviser to the company for a year after the deal closes.

The transaction is expected to close in the second half of next year. It needs the approval of both companies’ shareholders.

Read Full Story Click here to comment

FROM OUR PARTNERS