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IHS consultants agree merger with data provider Markit
[LONDON] Global research consultancy giant IHS has agreed to merge with London-based financial data supplier Markit, the pair said Monday.
The new company, which will be called IHS Markit, will have a market value of US$13 billion (11.5 billion euros), the two US-listed companies said in a joint statement.
"IHS and Markit today announced the signing of a definitive agreement under which the companies will combine in an all-share merger of equals to create a global leader in critical information, analytics and solutions," the pair said.
Following completion of the deal, IHS will own about 57 per cent of the combined group, and Markit 43 per cent.
"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," said IHS chairman and chief executive Jerre Stead.