Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, January 14, 2022

Article Excerpt

FACTSET RESEARCH SYSTEMS INC., $427.11, symbol FDS on New York, is a leading provider of financial data and portfolio analytics to investment firms worldwide. On December 27, 2021, FactSet announced that it would acquire CUSIP Global Services for $1.93 billion in cash. The company is buying CUSIP from S&P Global Inc. (symbol SPGI on New York). S&P Global is selling the business to get its merger with IHS Markit Ltd. (symbol INFO on New York) regulatory approval. CUSIP stands for Committee on Uniform Securities Identification Procedures. All stocks and bonds in the U.S. and Canada receive their own unique CUSIP identification number of nine letters and numbers to distinguish one publicly traded stock from another when settling trades. In addition, foreign securities are assigned a CINS number, which stands for CUSIP International Numbering System. CUSIP Global Services manages the system in partnership with the American Bankers Association. It generates approximately $175 million in annual revenue. In the quarter ended November 30, 2021, FactSet’s revenue…