M&A
confidence high
sentiment positive
materiality 0.85
FactSet to acquire CUSIP Global Services from S&P Global for $1.925B cash
FACTSET RESEARCH SYSTEMS INC
- Purchase price of $1.925B in cash for S&P Global's CUSIP Global Services division.
- Estimated tax benefit of ~$200M from step-up in tax basis over 15 years.
- CGS generates ~$175M annual revenue with mid- to high-single-digit growth; accretive to FactSet's adjusted EPS and margins in year one.
- Subject to regulatory approvals and closing of S&P Global / IHS Markit merger; expected to close in Q1 2022.
- FactSet secured up to $2.5B in committed financing, including a $500M revolver.