World News | S&P-IHS-MARKIT S&P Global is Buying IHS Markit in a USD 44 Bn All-stock Deal
Get latest articles and stories on World at LatestLY. S&P Global is buying IHS Markit in a USD 44 billion all-stock deal that brings together two of the largest data providers to Wall Street.
New York, Nov 30 (AP) S&P Global is buying IHS Markit in a USD 44 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.
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Current S&P Global shareholders will own approximately 67.75 per cent of the combined company, while shareholders of IHS Markit, based in London, will own about 32.25 per cent.
The transaction puts IHS Markit's enterprise value at USD 44 billion, including USD 4.8 billion of debt.
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 advisor 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. (AP)
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)