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