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Standard & Poor's buys Valuation Services Co.; intros new index.

Standard & Poor's (New York), a division of the McGraw-Hill Cos. (New York), has signed an agreement to acquire the U.S. Corporate Value Consulting (CVC) business of Pricewaterhouse--Coopers (New York) for about $120 million, including assets and liabilites.

CVC is a provider of valuation and value analysis to major U.S. companies for financial reporting, tax, business combinations, corporate restructurings, capital allocation and capital structure purposes. CVC had 2000 revenue of about $100 million and currently employs 400 people in 13 locations. The total size of the market that CVC serves is estimated to be about $1 billion globally, with deand by U.S. companies accounting for about one- half of the market.

Upon completion of the deal, CVC will become Standard & Poor's Corporate Value Consulting and will be led by PWC partner Philip Clements, who will become an executive vice president of Standard & Poor's. Clements said the deal "brings together two businesses that provide complementary financial analysis work centered around objectivity and integrity and that share similar corporate cultures." Becoming a part of Standard & Poor's "will enable CVC to realize its full business potential," Clements said.

In related news, Standard & Poor's and the New York Board of Trade will introduce the S&P Commodity Index (SPCI) and the Fall 2001 launch of futures and options contracts based on the index. The new index will measure price changes in a cross section of agricultural and industrial commodities with actively traded U.S. futures contracts. SPCI will track 17 commodities in six sectors, including grains, meat and livestock, metals, softs, fibers and energy, and will have six active contract months.
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Title Annotation:Corporate Value Consulting
Comment:Standard & Poor's buys Valuation Services Co.; intros new index.(Corporate Value Consulting)
Publication:Business Publisher
Article Type:Brief Article
Geographic Code:1USA
Date:Aug 15, 2001
Words:269
Previous Article:"Current Applied Physics" from Elsevier Science.
Next Article:Major trade and professional Publication, online and related Property acquisitions, second quarter, 2001.
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