S&P Global nears $44 bn deal to buy IHS Markit: reports

The S&P Global logo is seen outside a building in Washington, DC. Alastair Pike / AFP

NEW YORK - S&P Global was nearing a deal to buy IHS Markit for around $44 billion, reports said Sunday, in what would be a merger of two of Wall Street's largest data providers.

The all-stock deal could be announced as soon as Monday, the Wall Street Journal reported, citing sources familiar with the matter.

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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, a much more recent entrant to the hugely lucrative financial data market, is now valued at around $37 billion.

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.

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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.

S&P Global did not immediately respond to an AFP request for comment.


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