IHS Markit Ltd.(INFO)- NASDAQ
  • Wed, Jul. 20, 2:21 PM
    • IHS Markit (INFO -1.8%) and the International Swaps & Derivatives Association have wrapped a long antitrust investigation into credit-default swaps with a European settlement.
    • That's the last vestige of a probe that once touched big banks including Goldman Sachs and JPMorgan Chase. Those banks were dropped from the case for lack of evidence that they conspired to stop exchanges from competing in the credit-default swap market; ISDA and IHS Markit were added three years ago.
    • The two gave pledges to the European Commission on fairly licensing intellectual property over the next 10 years. They'll exclude CDS dealers from taking or influencing individual licensing decisions. And they'll be subject to fines for any breaches of the settlement's terms.
    | Wed, Jul. 20, 2:21 PM
  • Tue, Jul. 5, 3:11 PM
    • IHS (IHS -1.6%) and Markit (MRKT -1.6%) say their trading symbol for the merged "IHS Markit" company will be INFO, on Nasdaq.
    • The two have planned a $13B merger at which point the company will redomicile in London (IHS is headquartered currently in Englewood, Colo.).
    • Both companies are holding special meetings on Monday to vote on merger-related details. Approvals mean the companies will complete the merger Tuesday (July 12), and expect to begin trading under INFO on Wednesday, July 13.
    | Tue, Jul. 5, 3:11 PM
  • Mon, Jun. 27, 7:30 PM
    • IHS (IHS -3.1%) and Markit (MRKT -2.6%) have launched an exchange offer and consent solicitation for notes, in conjunction with their plans for a $13B merger of equals.
    • Markit's commenced an offer to exchange $750M of 5% notes due 2022 issued by IHS for a similar amount of new notes under the same terms to be issued by Markit, along with cash.
    • For each $1,000 in principal tendered by the early date, holders can receive $1,000 of the new IHS Markit notes and $5 in cash.
    • The move is intended to simplify capital structure after the companies merge and then redomicile overseas.
    | Mon, Jun. 27, 7:30 PM
  • Wed, Jun. 1, 1:31 PM
    • IHS (IHS -1.8%) -- pursuing a $13B "merger of equals" with Markit (MRKT -0.8%) -- is selling its Operational Excellence & Risk Management business to Genstar Capital.
    • The carve-out transaction will result in an independent company that Genstar will re-brand by the end of the year and base in Chicago.
    • The private equity firm is partnering with Paul Marushka, previously president of Marsh ClearSight, on the deal. Marushka will serve as president and CEO of the new company.
    • The Operational Excellence & Risk Management unit has more than 2,500 customers and hundreds of thousands of individual users in highly regulated industries.
    | Wed, Jun. 1, 1:31 PM
  • Tue, Apr. 5, 2:50 PM
    | Tue, Apr. 5, 2:50 PM | 15 Comments
  • Wed, Mar. 23, 5:49 PM
    • In a down market today, IHS (IHS -3.2%) and Markit (MRKT -2.1%) gave back a bit of the sharp gains they marked following a plan to merge into a $13B research giant.
    • Since the all-stock deal was announced, IHS has gained 9.3% and Markit 13.9%. The two added to gains as a number of analysts bumped price targets yesterday.
    • There's some skepticism about the merits. Deutsche Bank, which raised its target on IHS yesterday to $131, says the deal still has strategic risks as too much diversification could hurt existing products: "We worry that in 3 years when the merger benefits are realized, the increased scope of the products being sold to the larger client list will dilute the sales focus."
    • Meanwhile, today SunTrust Robinson Humphrey downgraded IHS from Buy to Neutral and cut its price target to $130 from a previous $135. Shares of IHS closed today at $121.
    • Following the news, Standard & Poor's has affirmed its corporate credit rating of BB+ on IHS, with a stable outlook, but put its rating on the company's senior unsecured instruments on negative CreditWatch as it awaits more capital structure information. "IHS's good market positions and recurring revenue base are likely to result in consistent operating performance over the next 12 months," it says.
    • Previously: IHS up 1.5% post-merger deal as analysts boost price targets (Mar. 22 2016)
    • Previously: IHS +8%, Markit +12% on plans to merge into $13B firm (Mar. 21 2016)
    | Wed, Mar. 23, 5:49 PM
  • Mon, Mar. 21, 5:40 PM
    | Mon, Mar. 21, 5:40 PM
  • Mon, Mar. 21, 1:47 PM
    • IHS stock is up 8%, and reaching its highest point so far this year, after an earnings beat in its fiscal Q1 and news that it's combining with Markit into a $13B research giant.
    • Markit (NASDAQ:MRKT) is up 11.9% and hitting a 52-week high on the deal, which values it at about $5.9B. It's an all-stock deal with an implied value of $31.13/share of Markit, now trading at $32.96.
    • The deal also marks an inversion for Englewood, Colo.-based IHS, which will redomicile in London as IHS Markit.
    • IHS beat on top and bottom lines in its fiscal Q1. Of 6.7% revenue growth, organic revenue growth was 3% (1% subscription growth). EBITDA of $179.6M was up 13% and beat an expected $172.9M.
    • Revenue breakout: Subscription revenue, $443.2M (up 3% on headline basis, 1% organically); non-subscription revenue, $105.3M (up 24% on headline basis, 14% organically).
    • For the full year, IHS forecasts revenues of $2.3B-$2.38B, EBITDA of $770M-$800M, and EPS of $6.00-$6.30, all in line with expectations.
    • Press Release
    | Mon, Mar. 21, 1:47 PM | 2 Comments
  • Wed, Feb. 10, 7:39 AM
    • Markit (NASDAQ:MRKT) reports organic revenue growth of 1.1% in Q4.
    • Revenue grew 9.4% on a constant currency basis.
    • Acquisition contributed 8.3 percentage point of growth to the revenue in the quarter.
    • Segment revenue: Information: $131.6M (+6.8%); Processing: $59.8M (-12.7%); Solutions: $100.1M (+25.6%).
    • Operating expense rate increased 200 bps to 53.3%.
    • Adjusted EBITDA margin declined 70 bps to 45.6%.
    | Wed, Feb. 10, 7:39 AM
  • Nov. 10, 2015, 7:58 AM
    • Markit (NASDAQ:MRKT) reports organic revenue rose 2.3% in Q3.
    • Segment revenue: Information: $126.1M (+2.2%); Processing: $61.3M (-15.1%); Solutions: $89.9M (+21.3%).
    • Operating expense rate increased 110 bps to 54%.
    • Adjusted EBITDA margin declined 240 bps to 44.9% for the quarter.
    | Nov. 10, 2015, 7:58 AM
  • Oct. 26, 2015, 10:23 AM
    • Reportedly outbidding Markit (MRKT -0.6%) and Nasdaq OMX (NDAQ +0.1%), ICE (ICE +1.2%) agrees to buy Interactive Data from its P-E owners for $5.2B - $3.65B in cash and $1.55B of ICE stock.
    • The deal is expected to close this year, and apparently eliminates the chance of an IPO for the company.
    • ICE expects adjusted earnings accretion of roughly 5% in year one, with expense synergies of $150M mostly completed in the first three years.
    • A conference call is set for 8:30 ET on Wednesday.
    | Oct. 26, 2015, 10:23 AM
  • Sep. 29, 2015, 9:41 AM
    • IHS (IHS +3.5%) used its FQ3 earnings call to state it's not pursuing an acquisition of Solera (SLH -2.2%). Bloomberg and Reuters previously reported IHS was interested in a bid that would trump Vista Equity's $55.85/share offer.
    • While Solera slips, IHS is higher following the disclosure, an FQ3 beat, and solid FY15 (ends in November) guidance. The business information software/services provider expects FY15 revenue to be at the midpoint of a $2.3B-$2.34B guidance range, and EPS to be toward the high end of a $5.80-$6.00 range. Consensus is at $2.32B and $5.92.
    | Sep. 29, 2015, 9:41 AM
  • Sep. 21, 2015, 6:11 PM
    • Bloomberg reports information software/services provider IHS is mulling a bid for auto insurance software vendor Solera (NYSE:SLH) that would top the $6.5B ($55.85/share) deal Solera agreed to with P-E firm Vista Equity.
    • Solera has risen to $56.15 after hours. Reuters previously reported (before the Vista deal was announced) an IHS/Solera deal was possible.
    • With IHS currently sporting an $8B market cap and having just $226M in cash as of May 31 (to go with $2.1B in debt), any offer for Solera would likely have a stock component.
    | Sep. 21, 2015, 6:11 PM
  • Sep. 11, 2015, 8:26 PM
    • Talks to buy out insurance industry software maker Solera Holdings (NYSE:SLH) are stalling out over price, Reuters reports.
    • Buyout firms Thoma Bravo and Vista Equity Partners have made offers that Solera finds wanting, according to sources. Final offers were reported earlier this week around $53/share, which would value the company around $3.6B.
    • Thoma Bravo is working to boost its bid by taking on more debt, the sources said.
    • Solera's now pursuing selling itself to another company instead, reportedly including IHS, which provides information and analytics to a number of industries.
    • Solera Holdings finished the day up 3.9%, to $49.45. A $53 purchase price represents a 7% premium from there.
    • Previously: Bloomberg: Solera close to ~$53/share deal to sell company (Sep. 09 2015)
    | Sep. 11, 2015, 8:26 PM | 1 Comment
  • Jun. 5, 2015, 9:06 AM
    • Selling shareholders unloaded 25.75M shares in the offering versus an expected 24.6M. It priced at $25.75 per share. The underwriters have the option to buy up to 1.75M shares at that price.
    • Markit intends to purchase from the underwriters 14M shares at the price paid to the selling shareholders of $24.91.
    • MRKT +1.3% premarket to $26.52.
    | Jun. 5, 2015, 9:06 AM
  • Dec. 19, 2014, 5:36 PM
    • Top gainers, as of 5:15 p.m.: SAND +10.7%. MCHX +9.0%. NEM +3.0%. VRTX +2.8%. MRKT +2.6%.
    • Top losers, as of 5:15 p.m.: NG -9.0%. DNR -8.0%. EDU -7.2%. NBR -7.0%. CRK -4.4%.
    | Dec. 19, 2014, 5:36 PM | 3 Comments
Company Description
Markit Ltd. is a holding company, which provides financial information services. It operates through the following segments: Information, Processing, and Solutions. The Information segment provides enriched content comprising pricing and reference data, indices and valuation, and trading... More
Sector: Technology
Industry: Application Software
Country: United States