FILE PHOTO: The S&P office is seen at right in Canary Wharf in London, Britain March 6, 2020. REUTERS/Kevin Coombs
“The next steps will be to receive regulatory approvals both in the U.S. and the EU, which we expect to take between six to nine months, and receive approval by our respective shareholders,” Uggla said in the internal memo seen by Reuters. Markit, founded by former credit trader Uggla, provides a range of pricing and reference data for financial assets and derivatives.
S&P Global shareholders will own roughly 67.75% of the combined company and the rest will be held by IHS shareholders. Douglas Peterson, CEO of S&P Global, will lead the combined firm, while Uggla will be a special advisor for a year after the deal closes.
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