S&P Global to acquire IHS Markit for $ 44 billion. S&P Global Inc, a data-driven major, will buy IHS Markit in a mega deal worth over $ 44 billion.
This will be the biggest deal of the year. This will create a large company in a highly competitive market of financial information. The mega-deal also includes a $ 4.8 billion debt.
The deal is indicative of the fact that the success of the deal has been accelerated by the huge success in the field of vaccine to control Covid-19 and this is going to improve the economic scenario.
The deal size reached a record high in the September quarter, according to data from Refinitiv. The September quarter saw transactions worth more than a trillion dollars.
These deals were especially seen in sectors like technology and healthcare. Coronavirus has not been shown to have much effect on these sectors.
According to the statement issued by the two companies, according to the terms of this deal, every share of IHS Markit will be exchanged in the ratio of 0.2838 shares of S&P Global.
After the completion of this deal, shareholders of S&P Global will have a total stake of 67.75%. At the same time, IHS shareholders will hold a 32.25% stake.
S&P Global gives debt ratings to various countries and companies. Also releases data related to the worldwide capital and commodity markets.
Markets Ltd was acquired by IHS, a data-driven company from the automotive to technology sectors, for about $ 6 billion. Subsequently, the IHS Markit was formed in 2016.
The government is going to implement new rules for the e-way bill from December 1. The new rule of the e-way bill can prove to be costly for traders who are lax in filing GST returns.
According to the new rule, businesses not filing GSTR-3B returns two or more times will not be able to generate e-way bills from December 1.
Generating an e-way bill is necessary for sending goods in excess of Rs 50,000 to other states. The rule of filing GSTR-3B is also going to change from January 1, 2021.
From January 1, traders will have to file GSTR-3B once in three months instead of every month.