- FactSet Research Systems Inc (NYSE:FDS) agreed to acquire CUSIP Global Services (CGS) from S&P Global Inc (NYSE:SPGI) for $1.925 billion in cash.
- FactSet looks to receive an estimated tax benefit of ~$200 million as part of the transaction.
- The acquisition will significantly expand FactSet’s critical role in the global capital markets, advancing its open data strategy.
- CGS will function as a part of FactSet Content and Technology Solutions (CTS).
- On a pro forma basis, the acquisition will increase CTS’s Annual Subscription Value (ASV) to over $425 million.
- CGS’s experienced and trusted team will report to Jonathan Reeve, EVP, and Head of CTS, FactSet.
- FactSet held $708.9 million in cash and equivalents as of November 30.
- Price Action: FDS shares closed higher by 0.44% at $479.51 on Thursday.
5 Value Stocks In The Utilities Sector
What Defines a Value Stock? A value stock is traditionally defined in terms of how investors in the…
