Deals
IHS Buys U.K. Financial Data Firm Markit for $5.5 Billion
- Jerre Stead, IHS CEO, will have same role at enlarged company
- IHS shareholders will hold 57% of combined data firm
IHS Agrees to Buy Markit Ltd. in $13 Billion Deal
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IHS Inc., which provides data analysis for energy and automotive companies, agreed to acquire London-based Markit Ltd. to bulk up in financial services.
Shareholders of IHS will get about 57 percent of the enlarged company and stockholders of Markit -- which is being valued at about $5.5 billion through the deal -- will get the rest, according to a statement on Monday. The tie-up, which will be called IHS Markit, would have $3.3 billion in revenue based on 2015 results.