S&P Global is buying IHS Markit in a $44B all-stock deal
S&P Global is buying IHS Markit in a $44 billion all-stock deal that brings together two of the largest data providers to Wall Street
NEW YORK — S&P Global is buying IHS Markit in a $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. 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, including $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.
