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McGraw Hill near $2 billion deal for SNL Financial: Source

The McGraw-Hill Companies
Adam Jeffery | CNBC

McGraw Hill Financial is nearing a deal to pay more than $2 billion for SNL Financial, a financial data and information company owned by private equity firm New Mountain Capital, a person familiar with the matter said on Sunday.

The deal, which would boost New York-based McGraw Hill's data and information offerings for its main base of clients, financial services companies, could be announced as soon as Monday, the person said on condition of anonymity.

Representatives for New Mountain declined to comment. Representatives for Charlottesville, Virginia-based SNL and McGraw Hill were not immediately available to comment.

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McGraw Hill provides ratings, analytics, data and research to financial institutions and individuals and is the parent of the Standard & Poor's ratings agency.

In August 2011, New Mountain Capital purchased a majority stake in SNL in a transaction which valued the entire company at $450 million.

SNL was founded in Hoboken, New Jersey by Reid Nagle in 1987. Nagle remains on the company's board.

Bloomberg first reported news of the deal on Sunday.

Thomson Reuters competes with McGraw Hill in providing information related to financial and commodities markets.