IHS Markit (NYSE: INFO) and S&P Global (NYSE: SPGI) reported entry into a definitive merger agreement to combine in an all stock transaction that values IHS Markit at USD 44 Billion, that includes USD 4.8 Billion of net debt. Board of Directors on both sides have unanimously approved as each share of IHS Markit common stock will be exchanged for a fixed ratio of 0.2838 shares of S&P Global common stock. Upon closing of the transaction, current S&P Global stakeholders will own 67.75% of the combined company as IHS Markit shareholders will own 32.25%.
“Through this exciting combination, we are able to better serve our markets and customers by creating new value and insights,” said Douglas Peterson, CEO of S&P Global. “This merger increases scale while rounding out our combined capabilities, and accelerates and amplifies our ability to deliver customers the essential intelligence needed to make decisions with conviction. We are confident that the strengths of S&P Global and IHS Markit will enable meaningful growth and create attractive value for all stakeholders. We have been impressed by the IHS Markit team and look forward to welcoming the talented IHS Markit employees to S&P Global.”
“This transaction is a win for both IHS Markit and S&P Global as we leverage our respective strengths in information, data science, research and benchmarks,” said Lance Uggla, CEO of IHS Markit. “Our highly complementary products will deliver a broader set of offerings across multiple verticals for the benefit of our customers, employees and shareholders. Our cultures are well aligned, and the combined company will provide greater career opportunities for employees. We look forward to bringing together our teams to realize the potential of this combination.”