LONDON (REUTERS) - Business research provider IHS Inc said it would buy Markit Ltd in an all-stock deal that values the London-based financial data provider at about US$5.9 billion (S$8 billion).

IHS shareholders will own about 57 per cent of the combined company, which would have a total value of more than US$13 billion, while Markit shareholders will own the rest.

Shareholders of IHS, the publisher of Jane's Defence Weekly, will get 3.5566 common shares of the combined company, IHS Markit, for each share held. IHS said the deal value implied a market price of US$31.13 per Markit share, a premium of 5.6 per cent over its last Friday close.