Financial data provider Markit posted revenue gains in its latest quarter, but profit fell as the UK-based company prepares to merge with US information and analytics provider IHS.
The companies announced the deal in April, valuing Markit at about $5.8 billion, or $31.13 a share. By moving to the UK, IHS will be able to take advantage of the country's lower corporate-tax rate through what is known as a tax inversion, a way for US companies to avoid paying taxes at home. The new company is to be called IHS Markit.