S&P Global, IHS Markit to Merge in $44 Billion All-Stock Deal
30 November 2020 - 10:59PM
Dow Jones News
By Matt Grossman
S&P Global Inc. and IHS Markit Ltd. will combine in a deal
that will value IHS Markit at $44 billion including net debt, the
financial-information companies said Monday.
Their announcement of the planned merger confirms a Sunday
evening report in The Wall Street Journal that such a deal could be
imminent.
Each share of IHS Markit common stock will be exchanged for
0.2838 shares of S&P Global common stock. S&P Global
shareholders will own just over two thirds of the combined company,
while IHS Markit shareholders will control nearly one third.
Doug Peterson, S&P's chief executive, will be CEO of the
combined company. IHS Markit CEO Lance Uggla will be a special
advisor to the combined company for a year after the deal closes.
The companies expect the deal to close in the second half of next
year.
S&P provides bond ratings and stock-market indexes such as
the S&P 500. IHS Markit, formed in a 2016 merger, tracks
financial-market data and provides software that helps financial
institutions underwrite securities offerings and track the
transportation and energy industries.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
November 30, 2020 06:44 ET (11:44 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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