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Photo: ALASTAIR PIKE/AFP via Getty Images

 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.

Go deeper

Jan 4, 2021 - Economy & Business

Shareholders approve Fiat Chrysler-Peugeot merger

Carlos Tavares will be CEO of the newly created Stellantis. Photo: Chesnot/Getty Images

Shareholders of Fiat Chrysler Automobiles and Peugeot parent Groupe PSA voted overwhelmingly Monday to merge their companies, creating the world’s fourth-largest automaker.

Why it matters: The shift toward electric, self-driving technology has left legacy carmakers scrambling to pool resources — or in this case, merge completely — in order to help shoulder the capital burden of the transformation.

Tim Scott hopes to reintroduce version of GOP police reform bill

Photo: Stefani Reynolds/Bloomberg via Getty Images

Sen. Tim Scott (R-S.C.) told reporters Wednesday he plans to reintroduce his police reform bill or a similar proposal in the coming weeks and that he has discussed a potential compromise with Rep. Karen Bass (D-Calif.) and Sen. Cory Booker (D-N.J.).

Why it matters: Eyes have again turned to Washington to take steps to address police reform in the wake of Derek Chauvin's guilty verdict Tuesday, after efforts stalled in Congress last year.

Biden announces small business tax credits for vaccine PTO

Photo: Doug Mills/The New York Times/Bloomberg via Getty Images

President Biden on Wednesday called on all employers to provide workers paid time off to get vaccinated or recover from COVID side effects, and said he'll include a paid tax credit for small businesses that do so.

Why it matters: The Biden administration sees workplaces as highly influential in making shots more convenient for working adults who are in high-risk industries.

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