Markit Ltd Acquired By IHS, But MRKT Remains in Driver's Seat

Shares of expansion-minded Markit Ltd continued to race higher Tuesday in the wake of an acquisition by U.S.-based IHS Inc., which agreed to acquire the data and business research provider at a 5.6% premium to Friday's close. Although the Markit prefers it being called a "merger of equals," both companies announced plans to move to Markit headquarters in London and Markit's founder is expected to become the head of the combined company in December.

Markit, a company that got its start in derivatives and quickly expanded its information services business appears on positive side of acquisition again

Markit shares traded on the NASDAQ closed Friday at $29.49 and immediately spiked...