INFO IHS Markit Ltd

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)

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