IHS Markit merger with S&P Global
Davis Polk is advising IHS Markit on its all-stock merger with S&P Global that values IHS Markit at an enterprise value of $44 billion. Under the terms of the merger agreement, each share of IHS Markit common stock will be exchanged for a fixed ratio of 0.2838 shares of S&P Global common stock. The transaction is expected to close in the second half of 2021, subject to, among other things, the expiration or termination of the applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, other antitrust and regulatory approvals, and other customary closing conditions.
IHS Markit is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. S&P Global is a provider of credit ratings, benchmarks and analytics in the global capital and commodity markets, offering ESG solutions, deep data and insights on critical business factors.
The Davis Polk corporate team includes partners Louis Goldberg and Oliver Smith and associates Shanu Bajaj and Christine Choi. Partners Kyoko Takahashi Lin and Jeffrey P. Crandall and associate Joseph S. Brown are providing executive compensation advice. Partner Howard Shelanski and counsel Suzanne Munck af Rosenschold are providing antitrust and competition advice. Partner Michael Mollerus is providing tax advice. Members of the Davis Polk team are based in the New York and Washington DC offices.