MSCI rejected S&P takeover bid, report says

MSCI rejected S&P takeover bid, report says
Source: CNBC Finance

Shares of MSCI jumped Wednesday after a report from Evening Standard, citing sources, said the index provider rejected a takeover offer from S&P Global.

The S&P Dow Jones Indices parent had offered to buy MSCI for $120 a share, the London newspaper said, citing people familiar with the matter. The sources also told the paper that MSCI shareholders are holding out for a buyout to the tune of $12 billion, or $130 per share.

MSCI declined to comment. S&P Dow Jones did not immediately respond to CNBC’s request for comment.

Shares of MSCI rose more than 10.5 percent to trade near $106.80 a share in New York. With Wednesday’s gains, shares are up more than 30 percent for the year so far.

Formerly part of Morgan Stanley, MSCI compiles global benchmark indexes such as the All-Country World Index and the Emerging Markets Index.

Source: FactSet