S&P Global and IHS Markit confirm $44B all-stock deal; INFO higher by nearly 7%

• The all-stock merger will have IHS Markit (INFO) owners receiving 0.2838 shares of S&P Global (NYSE:SPGI) commonstock for each share of INFO they hold. Upon completion, SPGI holders will own about two-thirds of the merged company, IHS holders, the rest.
• S&P Global CEO Douglas Peterson will be CEO of the combined company, while IHS CEO Lance Uggla will remain as a special advisor for one year.
• The deal is seen as accretive to earnings in the second full year after closing, with annual run-rate cost synergies expected to be about $480M, and also $350M of revenue synergies.
• A conference call is set to begin at 8:15 ET.
• Premarket: INFO +6.8% to $98.86, SPGI -1.6% to $338.01.
• Source: Press Release