Initial thoughts on $SPGI - $INFO potential tie-up:
S&P Global is making a play for a data giant with high recurring revenue & attractive overlaps in energy & index products. The potential synergies & impact to both sets of customers are massive.
More below:
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For a long time, it was agreed that large or even transformative M&A did. It create value and was more likely to reduce it I believe that data has not been true for decade or so, but haven’t seen the research in a bit
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INFO has some assets that fit perfectly, financials and energy segments and others that do not, transpo and trade I don’t think it’s possible this is financed without equity, although just a gander I’d be disappointed significant amount of shares are used as currency
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come on man! who are we kidding. SPGI so loved right now they can do no wrong. dan and ewout have earned that. but playing devil’s advocate (along with price paid) INFO is dilutive to growth rate and margin, and shrink’s the contribution of SPGI’s most attractive business.
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I’m skeptical Was open minded initially but less so now
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