Markit, a provider of financial information services, and IHS, a source of business insight, analytics and expertise, today announced that their stockholders and shareholders have approved each of the merger-related proposals presented at respective meetings on 11 July, 2016.
Markit: General meeting of shareholders
Shareholders approved proposals to issue Markit common shares in connection with the merger, to amend and restate the bylaws of Markit and to change the name of Markit Ltd to IHS Markit Ltd.
Over 99 percent of the voting shareholders, representing over 91 percent of the outstanding Markit shares, voted in favour of each of the proposals.
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IHS: Meeting of stockholders
Stockholders voted in favour of proposals to adopt the merger agreement and to approve, on an advisory, non-binding basis, a specified compensatory arrangement between IHS and its named executive officers relating to the transactions contemplated by the merger agreement.
99 percent of the voting stockholders, representing 84 percent of the outstanding IHS shares, voted in favour of the proposal to adopt the merger agreement.
Markit and IHS expect to complete the merger on 12 July, 2016, subject to certain closing conditions. Upon the closing of the merger, the combined company, IHS Markit Ltd, will be listed on the Nasdaq Global Select Market under the new trading symbol “INFO.”
Trading under the new trading symbol is expected to commence on 13 July, 2016.