SPGI S&P Global Inc

By Colin Kellaher

S&P Global Inc. on Wednesday said it plans to buy back $7 billion worth of stock through accelerated repurchase agreements with Citibank N.A., Goldman Sachs & Co. and Mizuho Markets Americas LLC.

The New York financial-data giant said it expects an initial delivery of more than 15.2 million shares, with final settlement expected in the third quarter.

S&P, which completed its $44 billion acquisition of IHS Markit on Monday, has about 363 million shares outstanding and sports a market capitalization of roughly $133 billion based on Tuesday's closing price of $390.58.

The company, which didn't buy back any shares last year due to the pending IHS deal, has said it plans to repurchase $12 billion worth of stock under accelerated agreements this year.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

March 02, 2022 08:51 ET (13:51 GMT)

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