Standard & Poor's Announces Changes to U.S. Indices
July 09 2008 - 4:38PM
PR Newswire (US)
NEW YORK, July 9 /PRNewswire/ -- Standard & Poor's will make
the following changes to the S&P MidCap 400 and S&P
SmallCap 600 indices after the close of trading on Monday, July 14:
-- S&P SmallCap 600 constituent Philadelphia Consolidated
Holding Corp. (NASDAQ:PHLY) will replace Aquila Inc. (NYSE:ILA) in
the S&P MidCap 400, and Greenhill & Co. Inc. (NYSE:GHL)
will replace Philadelphia Consolidated Holding in the S&P
SmallCap 600. Aquila is being acquired by S&P MidCap 400
constituent Great Plains Energy Inc. (NYSE:GXP) in a deal expected
to close on or about that date, pending final approvals. -- S&P
REIT Composite constituent LaSalle Hotel Properties (NYSE:LHO) will
replace USANA Health Sciences Inc. (NASDAQ:USNA) in the S&P
SmallCap 600. USANA is being taken private by an investor group led
by their senior management in a tender offer scheduled to expire on
that date. Standard & Poor's will monitor these transactions,
and post any relevant updates on its website:
http://www.standardandpoors.com/. Philadelphia Consolidated Holding
offers specialty commercial and personal property and casualty
insurance products. Headquartered in Bala Cynwyd, PA, the company
will be added to the S&P MidCap 400 GICS (Global Industry
Classification Standard) Property & Casualty Insurance
Sub-Industry index. Greenhill is an investment banking firm.
Headquartered in New York, NY, the company will be added to the
S&P SmallCap 600 GICS Investment Banking & Brokerage
Sub-Industry index. LaSalle Hotel Properties is a hotel REIT that
seeks to acquire and develop hotel properties, particularly upscale
and luxury full-service hotels in major urban markets.
Headquartered in Bethesda, MD, the company will be added to the
S&P SmallCap 600 GICS Specialized REITs Sub-Industry index.
Following is a summary of the changes: S&P MIDCAP 400 INDEX -
July 14, 2008 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED
Philadelphia Financials Property & Casualty Consolidated
Insurance Holding DELETED Aquila Utilities Multi-Utilities S&P
SMALLCAP 600 INDEX - July 14, 2008 COMPANY GICS ECONOMIC SECTOR
GICS SUB-INDUSTRY ADDED Greenhill Financials Investment Banking
& Brokerage LaSalle Hotel Financials Specialized REITs
Properties DELETED Philadelphia Financials Property & Casualty
Consolidated Insurance Holding USANA Health Consumer Staples
Personal Products Sciences Additions to and deletions from an
S&P equity index do not in any way reflect an opinion on the
investment merits of the companies concerned. About Standard &
Poor's Index Services Standard & Poor's Index Services, the
world's leading index provider, maintains a wide variety of
investable and benchmark indices to meet an array of investor
needs. Its family of indices includes the S&P 500, an index
with $1.32 trillion invested and $4.91 trillion benchmarked, and
the S&P Global 1200, a composite index comprised of seven
regional and country headline indices. For more information, please
visit http://www.standardandpoors.com/indices. About Standard &
Poor's Standard & Poor's, a division of The McGraw-Hill
Companies (NYSE:MHP), is the world's foremost provider of financial
market intelligence, including independent credit ratings, indices,
risk evaluation, investment research and data. With approximately
8,500 employees, including wholly owned affiliates, located in 23
countries, Standard & Poor's is an essential part of the
world's financial infrastructure and has played a leading role for
more than 140 years in providing investors with the independent
benchmarks they need to feel more confident about their investment
and financial decisions. For more information, visit: www.
standardandpoors.com. About The McGraw-Hill Companies: Founded in
1888, The McGraw-Hill Companies (NYSE:MHP) is a leading global
information services provider meeting worldwide needs in the
financial services, education and business information markets
through leading brands such as Standard & Poor's, McGraw-Hill
Education, BusinessWeek and J.D. Power and Associates. The
Corporation has more than 280 offices in 40 countries. Sales in
2007 were $6.8 billion. Additional information is available at
http://www.mcgraw-hill.com/. DATASOURCE: Standard & Poor's
CONTACT: David M. Blitzer Ph.D., Managing Director & Chairman
of the Index Committee +1-212-438-3907 Web site:
http://www.standardandpoors.com/ http://www.mcgraw-hill.com/
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