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

Nov. 30, 2020 6:35 AM ETS&P Global Inc. (SPGI)By: Mamta Mayani, SA News Editor4 Comments
  • 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

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