Summary
S&P Global Inc. (SPGI) has officially announced the completion of its merger with IHS Markit Ltd., a significant development for investors. The transaction, effective February 28, 2022, sees IHS Markit become a wholly owned subsidiary of S&P Global. Each IHS Markit common share has been exchanged for 0.2838 shares of S&P Global common stock, with provisions for cash in lieu of fractional shares. This merger, initially announced in November 2020, marks a pivotal moment, creating a larger, more integrated entity in the financial information and analytics sector. Investors should note that while the merger has closed, detailed financial statements and pro forma information for the combined entity will be filed in a subsequent amendment within 71 days. The appointment of four new directors to S&P Global's Board, effective upon the merger's completion, also signals integration efforts. The market will be closely watching the performance and strategic execution of the combined company in the coming periods.
Key Highlights
- 1Completion of the merger between S&P Global Inc. (SPGI) and IHS Markit Ltd. effective February 28, 2022.
- 2IHS Markit Ltd. is now a wholly owned subsidiary of S&P Global Inc.
- 3IHS Markit shareholders received 0.2838 shares of S&P Global common stock for each IHS Markit common share, plus cash for fractional shares.
- 4The merger was initially announced on November 29, 2020.
- 5Four new directors (Jacques Esculier, Gay Huey Evans, Robert P. Kelly, and Deborah McWhinney) have been appointed to S&P Global's Board of Directors, effective with the merger.
- 6Detailed financial statements and pro forma information for the acquired business will be filed via amendment within 71 days.
- 7A joint press release announcing the consummation of the merger was issued on February 28, 2022.