S&P and Dow indices may merge

McGraw-Hill Companies is in advanced talks with CME Group to merge the S&P Index business with CME's Dow Jones Indexes, a source familiar with the situation said yesterday. Under the terms of the deal being discussed, McGraw-Hill would own the majority of the joint venture and manage it, while CME would own about 25 percent, the source said. The deal, however, has not been finalised and the terms could change, the source said.McGraw-Hill and CME declined to comment on the news last night.