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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

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.

Scoop: Stephanie Ruhle to replace Brian Williams on MSNBC

Photo: Nathan Congleton/NBCU Photo Bank/NBCUniversal via Getty Images via Getty Images

MSNBC will soon announce plans to move morning anchor Stephanie Ruhle to the 11 pm ET hour that Brian Williams turned into an elite destination, two sources familiar with the move tell Axios.

Details: The 9 am ET hour, currently hosted by Ruhle, will become part of MSNBC's flagship morning show, "Morning Joe," which currently runs from 6 am to 9 am ET.

Oath Keepers leader denied bail on Capitol riot sedition charge

Oath Keepers co-founder Elmer Stewart Rhodes. Photo: Susan Walsh/AP

A federal judge ordered Oath Keepers leader Stewart Rhodes to remain jailed Wednesday until trial on charges stemming from the Capitol riot.

Why it matters: The judge said the most prominent far-right figure charged in the Jan. 6, 2021, insurrection had access to weapons and his alleged "continued advocacy for violence against the federal government" gave credence to prosecutors' view that, if released, Rhodes could endanger others.

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