Newspaper article International New York Times

Providers of Market Data to Combine

Newspaper article International New York Times

Providers of Market Data to Combine

Article excerpt

The combined company, IHS Markit, will provide services to more than 50,000 customers and will have about $3.3 billion in annual revenue.

The data and analytics providers IHS and Markit have agreed to combine in an all-stock transaction that will move the IHS headquarters from Colorado to London.

IHS's shareholders will own 57 percent of the combined company -- to be known as IHS Markit -- and Markit's shareholders will own the remaining 43 percent, according to a news release on Monday. IHS Markit would have an equity value of about $13 billion and more than 50,000 customers.

Technically, the deal is a so-called inversion, where a company merges with a foreign one to lower its tax bill. However, IHS's tax rate may not change much. IHS's effective tax rate was about 20.5 percent for the year through November, and the combined company is expecting a tax rate in the low- to mid-20 percent range, according to the statement. …

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