Data giant SP Global Inc is nearing a deal to buy IHS Markit Ltd, according to a person familiar with the matter, creating a heavyweight in the increasingly competitive market for financial information.
The deal could be announced as soon as Monday, with SP set to pay around 44 billion in stock, according to a report in the Wall Street Journal.
SP Global and IHS did not immediately respond to Reuters requests for comment.
At that price, it would be the biggest deal of 2020 and a sign deal making activity is accelerating as breakthroughs in COVID19 vaccinerelated developments improve the economic outlook.
SP Global is renowned for providing debt ratings to countries and companies, as well as data on capital and commodity markets worldwide. It became a standalone business in 2011 when its then parent McGrawHill separated SP from its education business.
IHS Markit was formed in 2016 when IHS, whose businesses range from data on automotive and technology industries to publishing Janes Defence Weekly, bought Markit Ltd in 2016 for around 6 billion. Markit, founded by former credit trader Lance Uggla, provides a range of pricing and reference data for financial assets and derivatives.
IHS has a market value of around 36.88 billion based on the stocks last close on Friday, Reuters calculations showed, with its share price up around 22 so far this year.
The transaction is likely to face close examination from competition watchdogs, as the market for financial information…