The rating agency S&P Global announced on Monday the signing of a merger agreement with the US company IHS Markit, known for its influential $ 44 billion monthly economic activity indices.
The two companies “agreed to a complete merger” that puts the value of IHS Markit “at 44,000 million dollars (about 36,700 million euros), of which 4,800 million are net debt”, explains in a statement Standard & Poor’s Global , famous for managing the US benchmark S&P 500 and Dow Jones stock indices, and for its debt risk rating activity.
The merger agreement was approved “unanimously by both boards of directors,” Standard & Poor’s Global said in a statement, adding that the transaction, which will be carried out through an exchange of shares, should be closed throughout the second half of 2021.
The new company will develop its activity in the sectors of information and financial services, risk rating, indices, raw materials and energy.
S&P Global expects pro forma annual results of more than $ 11.6 billion (€ 9.6 billion) for this new financial reporting behemoth. “This merger (…) reinforces our ability to provide clients with essential information necessary to make decisions with confidence. We are convinced of the advantages for S&P Global and IHS Markit that will allow significant growth and value for both parties. “, he assures Douglas Peterson, CEO of S&P Global who will lead the new company.
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