IHS Merges With Markit In $13 Billion Deal

Englewood, Colorado-based energy information provider IHS and London-based Markit, a provider of financial information systems, said they are in a $13 billion merger. The two said the merger will create a new, combined company called IHS Markit, headquartered in London. The acquisition will make IHS shareholders owners of 57 percent of the company, with Markit's shareholders owning 43 percent of the combined company. The combined company will have $3.3 billion in revenues and $800M in free cash flow. According to the two companies, the new combined company will continue to have key operations in Englewood.