The financial data provider S&P Global wants to take over the competitor IHS Markit in a multi-billion dollar stock deal. IHS Markit is valued at $ 44 billion, both companies said. That also includes $ 4.8 billion in debt. S&P Global is owned by the rating agency S&P, known as Standard & Poor’s.
The merger hopes to save running costs of $ 480 million annually. Assuming the official approvals, the participating companies plan to complete the acquisition in the second half of 2021. The deal would be the second largest this year behind a $ 56 billion deal in the oil industry in China.
IHS Markit had reached a record high in the past week of trading and was valued on Friday at the closing price of 36.9 billion dollars. S&P Global has a market value of $ 82.2 billion.
There are more and more large mergers in the financial data industry. In Europe, the London Stock Exchange is currently trying to wrap up its € 27 billion takeover of the financial data provider Refinitiv. The EU competition watchdogs are carefully examining the planned takeover and demanding concessions.