IHS Markit shareholders approve merger with S&P Global
Shareholders of IHS Markit (NYSE:INFO), a world leader in critical information, analytics and solutions, have voted overwhelmingly to approve its merger with S&P Global.
At a special general meeting of shareholders held on March 11, 2021, 98.95% of the votes cast were in favor of the proposed merger agreement.
“We are delighted by the overwhelming shareholder support of this strategic merger,” said Lance Uggla, Chairman and CEO of IHS Markit. “We remain focused on bringing together two great companies for the benefit of our customers, employees and shareholders.”
IHS Markit continues to anticipate that the closing of the merger will occur in the second half of 2021 pending antitrust and regulatory approvals, and satisfaction of other customary closing conditions.
In November 2020, S&P Global and IHS Markit announced their entry into a definitive merger agreement to combine in an all-stock transaction which values IHS Markit at an enterprise value of $44 billion, including $4.8 billion of net debt.
Under the terms of the merger agreement, which has been unanimously approved by the Boards of Directors of both companies, each share of IHS Markit common stock will be exchanged for a fixed ratio of 0.2838 shares of S&P Global common stock. Upon completion of the transaction, current S&P Global shareholders will own approximately 67.75% of the combined company on a fully diluted basis, while IHS Markit shareholders will own approximately 32.25%.