IHS buys Markit to form US$13b business research provider

London

US-BASED IHS Inc agreed to buy Markit Ltd to create a US$13 billion London-based data and business research provider, in the latest example of a US company moving its domicile overseas where corporate tax rates are lower.

The companies said that IHS shareholders will own about 57 per cent of the combined company following the close of the all-stock deal, which values Markit at about US$5.9 billion.