S&P Global to Buy IHS Markit for $44 Billion in 2020’s Biggest Merger
By Noor Zainab Hussain (Reuters) – Data giant S&P Global Inc has agreed to buy IHS Markit Ltd in a deal worth $44 billion that will be 2020’s biggest merger,...
FRANKFURT, Dec 2 (Reuters) – Germany’s Hapag-Lloyd said on Tuesday it had received the last outstanding regulatory approvals for its planned merger with Chilean shipper Compania SudAmericana de Vapores, clearing the way for the two companies to be formally combined.
The merger, which will create the world’s No. 4 container-shipping company, is important for the shipping industry which hopes that consolidation will ease the pressure on freight rates, helping it to overcome the worst slump on record.
Hapag-Lloyd said it would execute a planned capital increase worth 370 million euros ($459 million) by Dec. 31, which will make Vapores its biggest shareholders with a 34 percent stake.
The main steps to integrate the two companies should be completed by the end of the second quarter 2015, it said.
($1 = 0.8059 euros) (Reporting by Maria Sheahan; Editing by Ludwig Burger)
(c) 2014 Thomson Reuters, All Rights Reserved
Join the 62,865 members that receive our newsletter.
Have a news tip? Let us know.