Business research provider IHS Inc. said it would buy Markit Ltd. in an all-stock deal that values the London-based financial data provider at about $5.9 billion.

IHS shareholders will own about 57 percent of the combined company, which would have a total value of more than $13 billion, while Markit shareholders will own the rest.

Shareholders of IHS, the publisher of Jane's Defence Weekly, will get 3.5566 common shares of the combined company, IHS Markit, for each share they currently hold.

IHS said the deal value implied a market price of $31.13 per Markit share, a premium of 5.6 percent over its Friday close.