Tue, 22 Mar 2016 | MERGER
Two of the world’s financial information powerhouses have announced a merger worth more than £9 billion, with the headquarters of the combined company to be based in London.
Business research company IHS, which is based in Colorado in the US, is set to merge with London-based financial information services provider Markit, after the board of directors gave their backing to the mega-deal.
The deal will be an all-share merger of equals, according to both companies, who will now be known as IHS Markit. The newly merged firm plans to keep a US base in Englewood, Colorado, but the headquarters will operate out of London.
Before the merger, IHS employed 9,000 people to provide business research to companies and governments in around 140 countries around the world, while Markit employed some 4,200 people across 13 countries to provide financial data to banks, hedge funds and asset managers.
IHS Markit has said that the merger will save around £87 million by the end of 2019.
Lance Uggla, the chairman and chief executive of Markit, said of the deal: "At the heart of our shared vision is the opportunity to offer our customers a broader and richer content set through both existing and new products that will support their critical decision-making and manage regulatory change.
"The combination will enhance cash flow and enable stronger returns of capital to shareholders.”
Jerre Stead, the chairman and chief executive of IHS, added: "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.”
For more information on mergers, see the guide Post Merger Integration.
Indicative offers are required by 12:00hours on Monday 20 January 2020 with a view to completion shortly thereafter. The proposed Joint Administrators are seeking parties interested in the business and assets of a Company that trades as a recruitment...
Offers and proof of funding sought by 17:00hours on Friday 24 January 2020. The Joint Administrators are seeking parties interested in the business and assets of a commercial contractor business based in the Midlands.
Provides highly skilled and professional hospitality staff across a variety of sectors. Recognised as both a preferred and top tier supplier for several of its prestigious clients. Supplying both temporary and permanent Nationwide staffing solutions....
The business and assets of Yorkshire-based display products ...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources