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Immediately Energy & Financial Services stick out as key overlaps between the two companies. There's also the recurring revenue of $INFO to offset the transactional exposure of $SPGI's ratings unit.

$SPGI has explained how their ecosystem drives a competitive advantage. Platts, Index & Ratings segment data Flowing through the Market Intelligence platform Creates a valuable closed loop for customers Adding $INFO data to this loop would be a huge boost to that advantage.

As @bizalmanac highlights, the deal does look expensive on first glance, but in today's environment I think the "strategic sense" the transaction makes will overall please investors. Should be a fun week of news ahead!https://twitter.com/bizalmanac/status/1333214170515460097?s=20 …

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.

I’m skeptical Was open minded initially but less so now

INFO is basically a poor man’s SPGI. slower growing, 10% of their EBITDA margin is stock-based comp, and their portfolio of businesses doesn’t fit together nearly as good as SPGI. will be interesting to hear what SPGI says about cost synergies and pruning INFO’s portfolio.

the cynical side of me also wonders if this is any indication of what SPGI thinks of near-term outlook for issuance. INFO synergies could bridge a two or three year gap of softer Ratings revenue.