Market index compiler MSCI has insisted it has not received a takeover offer from financial data giant S&P Global.
The company’s response came after media reports suggested the firm behind the Dow Jones Industrial Average index and the S&P 500 index is plotting a $11bn (£9bn) bid for MSCI.
In a statement, MSCI said: “We do not normally comment on rumors in the market, but in response to recent media reports regarding third party interest in MSCI, we believe such reports are incorrect. We are not in discussions with any third party, and we have not received any offer or indication of interest. We do not anticipate making any further comment regarding these rumors.”
Formerly part of Morgan Stanley, MSCI serves 97 of the top 100 largest money managers. It compiles global benchmark indices such as the All-Country World Index and the Emerging Markets Index.