Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, December 11, 2020

Article Excerpt

IHS MARKIT LTD., $89.33, symbol INFO on New York, is a provider of data and analytics for more than 50,000 customers around the world. Its customers include 80% of the Fortune Global 500, and the world’s leading financial institutions. On November 30, 2020, IHS Markit announced that it had agreed to be acquired by S&P Global (symbol SPGI on New York) in an all-stock deal valued at $44 billion. IHS Markit Shareholders will receive 0.2838 shares of S&P Global for each share held in IHS Markit. S&P Global shareholders will own 68% of the combined entity with IHS Markit shareholders owning 32%. At S&P Global’s current share price, the deal is valued at $92.18 per HIS Markit share. If regulators approve the deal, it will close in the second half of 2021. In the quarter ended August 31, 2020, IHS Markit’s revenue decreased by 3.5% to $1.07 billion from $1.11 billion a year earlier. COVID-19 hurt demand from some of the company’s clients. Excluding one-time…