McGraw-Hill Unit Platts Buys Swiss Firm Kingsman
NEW YORK (AP) â¿¿ The McGraw-Hill Companies Inc. said Thursday that its Platts division is buying Swiss analytics firm Kingsman SA for an undisclosed price.
Platts reports on trends and prices for a range of commodities, including energy, petrochemicals and metals. The acquisition of Kingsman, a privately held company that tracks price and other information on the global sugar and biofuels markets, will expand those services.
Founded in 1990 and based in Lausanne, Switzerland, Kingsman employs analysts, researchers and report writers in several markets, including London, Montreal, New Delhi and Sao Paulo.
The deal is expected to close on Nov. 1.McGraw-Hill, known best for its Standard & Poor's Rating Services and Dow Jones Indices, is in the process of separating its education company from its financial and commodities information businesses. It plans to separate into McGraw-Hill Financial and McGraw-Hill Education by the end of the year. McGraw-Hill shares added 50 cents to $55.63 by midday as the broader markets gained.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV