MSCI Inc. (NYSE:MSCI) entered into a definitive agreement to acquire Investor Force Holdings, Inc. from ICG Group, Inc. (NasdaqGS:ICGE) and others for $23.5 million in cash on January 23, 2013. The consideration is subject to a final working capital adjustment. ICG's share of the cash proceeds related to the sale of Investor Force is expected to be approximately $20.7 million, approximately $2.1 million of which will be subject to a customary indemnification holdback. ... The transaction will be funded through existing cash and is not expected to have a material impact on MSCI's results of operations. The transaction is expected to close in the first quarter of 2013, subject to customary closing conditions. William J. Chudd, Boyoon Choi, M. McLoughlin, Andrew Blau, Gregory T. Hannibal, Frank J. Azzopardi, Pritesh P. Shah, and Hayden S. Baker of Davis Polk & Wardell LLP acted as legal advisors to MSCI. Sally Todd and Christian Pickel of MHP Communications acted as public relation advisor in the transaction. Credit Suisse (USA), Inc. acted as financial advisor to Investor Force Holdings.
Read More

The Board of Directors of MSCI Inc. (NYSE:MSCI) authorized a share repurchase program on December 13, 2012. Under the plan, the company will repurchase up to $300 million worth of its common stock. As part of this authorization, the company has entered into a $100 million Accelerated Share Repurchase (ASR) agreement with Morgan Stanley & Co. LLC. Under the agreement, the company has paid $100 million and received approximately 2,200,000 shares of its common stock at ... the inception of the ASR and may receive from Morgan Stanley additional shares at or prior to maturity of the ASR. The total number of shares to be repurchased will be based primarily on an arithmetic average of the volume-weighted average prices of MSCI common stock on each trading day during the repurchase period. This average price will be capped such that only under limited circumstances will MSCI be required to pay cash or deliver shares to Morgan Stanley at settlement. The ASR agreement will be funded with cash on hand. The ASR agreement is effective immediately and the company anticipates that all repurchases under the ASR will be completed no later than July 2013, which is the final date of the repurchase period, although Morgan Stanley has the right to accelerate settlement of the ASR under certain circumstances. The $200 million balance of the authorization will be available for utilization from time to time in the open market or in privately negotiated transactions based on market and other conditions. The $200 million balance of the authorization may be modified, suspended, terminated, or extended by the Board of Directors at any time without prior notice. This $200 million balance will be available for utilization through 2014 at the company’s discretion. Till December 31, 2012, the company has repurchased 2,226,028 shares for $100 million. As of March 31, 2013, the company has repurchased 2,226,028 shares for $100 million. John M. Brandow, Barry J. Gewolb, law clerk Gary Pong, Sartaj Gill, Shakhi Majumdar, Michael Mollerus, John A. Bick and Richard D. Truesdell Jr. acted as the legal advisors for Davis Polk & Wardwell LLP.
Read More

Sponsored Financial Commentaries

To contact MSCI INC, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.