IHS and Markit have announced the signing of a definitive agreement under which the companies will combine in an all-share merger of equals to create a global player in critical information, analytics and solutions. Based market value of IHS and Markit at transaction, the implied equity value of the transaction is more than $13 billion. The deal has been unanimously approved by the Board of Directors of each company.
Upon completion of the merger, the combined company will be renamed IHS Markit and will be headquartered in London and have certain key operations based in Englewood, Colorado. IHS shareholders will own approximately 57 per cent and Markit shareholders will own approximately 43 per cent of the combined company on a fully diluted basis.
Jerre Stead, IHS Chairman and Chief Executive Officer, said, “This transformational merger brings together two information-rich companies to create a powerful provider of unique business intelligence, data and analytics to a broad and complementary customer base. IHS Markit and its shareholders will benefit from enhanced product innovation to deliver strong returns across economic cycles. Importantly, the two companies are values-based organisations that have a strong cultural fit which focuses on customer satisfaction and colleague success.”