S&P Global to Acquire IHS Markit for $44 billion
S&P Global announced on Monday it had entered a definitive agreement to buy IHS Markit Ltd. in an all-stock deal valued at $44 billion.
Under the terms of the agreement, shares of IHS Markit will be exchanged for 0.2838 shares of S&P Global. Upon the completion of the transaction, shareholders of IHS will own approximately 32.25% of the new company, while S&P’s will hold 67.75%.
AirBnB & Doordash IPOs
According to the Wallstreet Journal, Airbnb and DoorDash plan to release higher-than-expected valuation ranges for their upcoming initial public offerings.
The two companies have begun their investor roadshows and Airbnb is targeting up to $33 billion while DoorDash targets a range of around $25 billion to $28 billion.
Dollar Slides to a two and half year low
Reuters reports that the dollar hit its lowest in two and a half years on Monday as the global equities rally that has seen risk appetite surge in November paused for breath.
The dollar has been on the decline amid optimism about a COVID-19 vaccine becoming available soon, as well as hopes for further stimulus to support the US economy, Joe Biden’s U.S. election win, prompting the dollar to fall and riskier currencies to strengthen amid new lockdowns.
Tesla To Sell Model Y in china
China’s Ministry of Industry and Technology released a press statement showing that Tesla Inc. had been granted approval to sell its Model Y sports utility vehicle which is manufactured at the firm’s Giga Shanghai factory.
Tesla market cap last week surpassed the $550 Billion market cap and according to Bloomberg, Tesla’s shares were volatile on Monday ahead of a decision by S&P Dow Jones Indices on how it plans to add the electric vehicle company to its benchmark.
The S&P is seeking feedback on whether to include Tesla’s stock all at once on Dec. 21 or break it in over two days; a first of a kind in the history of the S&P.
Salesforce Acquisition of Slack
According to CNBC, Salesforce will officially announce its decision to purchase communication platform Slack Tuesday when it releases itsQ3 earnings.
The deal will be half cash and half stock and is expected to value the business communication platform over its current market value of $17 billion.
Bitcoin Rally Continues
Bitcoin nearly surpassed its all-time high of $19,891 on Monday driven by news that US President-elect Joe Biden had selected former Federal Reserve Chairwoman Janet Yellen to lead the Treasury Department in his administration
Bitcoin’s market cap hit passed $359.9 Billion and is up over 170% since the start of 2020.
