S&P Global to merge with IHS Markit in $44 billion megadeal
S&P Global will merge with IHS Markit for a deal worth about $44 billion in stock, the companies announced Monday.
Why it matters: It's the largest merger of 2020 and creates a financial data powerhouse, merging two of the largest firms in the industry.
- "[T[he two companies will provide comprehensive solutions across data, platforms, benchmarks and analytics in ESG, climate and energy transition," according to a news release.
- Shareholders of S&P Global will own about 67.75% of the combined company, while IHS Markit shareholders will own some 32.25%.
What they're saying: "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," said Douglas Peterson, president and CEO of S&P Global, who will serve as CEO of the combined company.
- "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."
What to watch: The companies expect the transaction to close in the second half of 2021.