The about to be merged business and financial information providers IHS Inc. (NYSE:IHS) and Markit Ltd (NASDAQ:MRKT) have announced that the combined company, which will be renamed IHS Markit Ltd., will be listed on the Nasdaq Global Select Market under the new trading symbol ‘INFO’.
IHS and Markit announced their plans for a $13 billion merger back in March. The companies announced the merged company’s expected executive team last month. The merger is expected to close early next week, after shareholders of each company meet to vote on the deal.
Jerre Stead, IHS chairman and chief executive officer, commented,
The INFO trading symbol introduces IHS Markit to the world – simply and powerfully — as the new global leader in critical information, analytics and solutions. This milestone represents another important step toward the combination of two great companies. Like no other business information provider before it, IHS Markit will see the big picture, giving customers insights, perspectives and solutions that will make them more efficient and help them make informed decisions on what really matters.
Lance Uggla, chairman and chief executive officer of Markit, commented,
The IHS Markit ticker INFO is particularly meaningful as it captures our core purpose: helping customers improve decision-making and increase operational efficiency. We do this by leveraging technology to provide the highest quality information, analytics and solutions for major industries and markets that drive the global economy. I am excited about the value IHS Markit will deliver to customers, employees and shareholders.
Markit and IHS are holding special meetings of their shareholders and stockholders, respectively, on July 11, 2016, at which Markit shareholders and IHS stockholders will be asked to consider and vote on various merger-related proposals. If IHS stockholders and Markit shareholders approve such proposals on July 11, 2016, IHS and Markit expect to complete the merger on July 12, 2016, subject to the satisfaction or waiver of certain closing conditions, and expect trading of the combined company’s common shares under the new trading symbol to commence on July 13, 2016.