S&P Global merges with IHS Markit in $44 billion deal

PARIS: Ratings giant S&P Global said Monday that it had agreed to an all-stock merger with IHS Markit that values the data and analysis firm at $44 billion.

“Through this exciting combination, we are able to better serve our markets and customers by creating new value and insights,” said Douglas Peterson, the CEO of S&P Global and who will serve as CEO of the combined company.

S&P Global, valued at around $82 billion, controls the Standard and Poor’s ratings agency and traces its roots to the 1860s. London-based IHS Markit is a much more recent entrant to the hugely lucrative financial data market.

The move would mark the latest consolidation among firms providing financial data and analytics as competition heats up amid challenges to titans such as Bloomberg and Refinitiv. News of the potential deal comes amid a share rally, with the S&P 500 and Nasdaq both closing at records Friday as markets look past rising coronavirus cases toward a better 2021 economy with likely Covid-19 vaccines.