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McGraw-Hill confirms DJIA-S&P merger plans

McGraw-Hill confirms DJIA-S&P merger plans
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First Published: Fri, Nov 04 2011. 11 44 PM IST

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Updated: Fri, Nov 04 2011. 11 44 PM IST
McGraw-Hill Cos. confirmed plans to combine its Standard and Poor’s indexes business with CME Group Inc.’s Dow Jones Indexes to create a joint venture that would house stock-market indicators such as the S&P 500 and the Dow Jones Industrial Average.
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The Wall Street Journal reported in late September that the companies were in talks about such a plan.
Under the new structure, McGraw-Hill will own 73% of S&P/Dow Jones Indices, CME Group will own 24.4% through its affiliates and Dow Jones will own 2.6%.
Click here to read to full story.
The Wall Street Journal
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First Published: Fri, Nov 04 2011. 11 44 PM IST