Conyers Dill & Pearman advised Markit Ltd. on the Bermuda law aspects of its $13bn merger with IHS Inc.

Markit became the holding company for the combined groups and was renamed IHS Markit Ltd. (Nasdaq: INFO). The merger was completed on 12 July and creates a global leader in critical information, analytics and solutions for major industries and markets that drive economies worldwide.

The transaction featured a merger under Delaware law with IHS becoming a subsidiary of IHS Markit Ltd. Former IHS shareholders now own approximately 57% and Markit shareholders own approximately 43% of IHS Markit Ltd. The parties chose for the combined group to have a Bermuda holding company, which has resulted in the largest capital markets transaction in Bermuda so far this year.

Niel Jones, lead Director in Conyers’ Bermuda corporate practice on the transaction, said: “2016 is proving to be another significant year for Bermuda companies listed on the NYSE and Nasdaq.”