S&P Global’s Index to Add Sirius XM to MidCap 400 on June 11
SPGI•S&P Dow Jones Indices will add Sirius XM Holdings to the S&P MidCap 400 on June 11, removing Masimo Corp. The change follows Danaher’s pending acquisition of Masimo and expands Communication Services in the index, reinforcing S&P Global’s leading index-based product offerings.
1. Index Change Details
Effective prior to market open on June 11, Sirius XM Holdings will replace Masimo Corp. in the S&P MidCap 400 index. The adjustment reflects the completion timeline of the Danaher Corp. acquisition of Masimo and aligns the index with its eligibility criteria.
2. Rationale Behind Adjustment
Masimo’s pending takeover by Danaher triggers its removal since it no longer meets MidCap 400 market capitalization and independence requirements. Index methodology mandates such changes to maintain accurate representation of mid-capitalization companies.
3. Implications for S&P Global
This rebalancing generates incremental licensing and data fees for S&P Global’s Dow Jones Indices division. It also highlights SPGI’s role as a leading provider of benchmark indices, potentially boosting index tracking and derivative product demand.
