S&P Global Inc. SPGI → Mobility Global Inc. MBGL
| Parent | S&P Global Inc. SPGI |
|---|---|
| Spinco | Mobility Global Inc. MBGL |
| Status | Completed |
| Structure | Spin-off A filing states a pro-rata distribution: holders receive shares automatically. |
| Focus | Focus-increasing Parent and spinco operate in different industries — the class the research associates with stronger post-separation returns. |
| Ratio | 1 Mobility Global share for every 1 S&P Global share |
| Checked against EDGAR | 2026-08-21 |
Data trap
S&P Global's reported results included the Mobility division (automotive analytics, CARFAX) through the quarter ended before July 1, 2026. Screeners carrying trailing-twelve-month SPGI revenue across the separation date are mixing a segment that is now a separate company; Mobility Global's own standalone history starts with its 10-Q filed 2026-08-07.
The restated filings have landed; this is kept as history.
Catalyst clock
- 2025-04-29Separation announced
- 2026-05-07Form 10 filed
- 2026-05-27Form 10 last amended
- 2026-06-04Form 10 effective
- 2026-06-15Record date
- 2026-06-26When-issued trading opens
- 2026-07-01Distribution
- —First standalone earnings
- —Index inclusion announced
Performance since separation
| Mobility Global Inc. since separation | -6.32% |
|---|---|
| S&P Global Inc. over the same window | +3.93% |
| S&P 500 (SPY) over the same window | +2.68% |
| Russell 2000 (IWM) over the same window | +0.21% |
| Excess over the S&P 500 | -9.00% |
| Excess over the Russell 2000 | -6.53% |
Measured from the first regular-way close on or after the distribution — 2026-07-01 at 21.19 — to 2026-08-21 at 19.85. Window: 2 months. That is a short window. Treat it as a fact about these few weeks, not as evidence about how the separation turns out. Two benchmarks, because one is misleading: spin-offs are usually small companies, and across this period small caps lagged the S&P by several points a year on their own. Measured against the S&P alone, roughly a third of any shortfall is company size rather than the separation. Returns are arithmetic over end-of-day closing prices. Unlike every other figure on this page, they do not come from a filing.
Pre-distribution investor return
| Parent, announcement to separation | -21.67% |
|---|---|
| Combined (S&P Global Inc. + Mobility Global Inc.), pre-distribution to now | +17.12% |
| Combined excess over the S&P 500 | +14.58% |
| Combined excess over the Russell 2000 | +17.28% |
Combined treats a pre-spin holding as 1 Mobility Global share for every 1 S&P Global share valued at the parent's last close before regular post-spin trading resumed — 2026-06-30 at 385.21 — against that same basket today. That baseline is a practical proxy, not an attempt to isolate exactly how much value the separation transferred: for a large parent and a small spinco, ordinary day-to-day price noise can be bigger than the transfer itself. Run-up measures only the parent's own price, from the announcement date to that same baseline — how far the market had already moved before the separation's mechanics ever happened.
Filings
Every fact on this page comes from one of these.
- 10-12Bfiled 2026-05-07 · 0001104659-26-057155Initial Form 10 registration statement for the S&P Global Mobility division
- 10-12B/Afiled 2026-05-27 · 0001104659-26-066592Final amendment; Ex-99.1 information statement carries the 1-for-1 ratio, the June 15 record date and the July 1 distribution date
- SEC STAFF ACTIONfiled 2026-06-04 · 9999999997-26-001009SEC order declaring the Form 10 effective — the only filing that dates effectiveness for this deal
- 8-Kfiled 2026-07-02 · 0001104659-26-080006Distribution effective 12:01 a.m. New York time on July 1, 2026; S&P Global retained no ownership
- 10-Qfiled 2026-08-07 · 0002090312-26-000014First standalone quarterly report
Notes
S&P Global separated its automotive data and analytics division. Classified focus-increasing: financial ratings, indices and market intelligence on one side, vehicle data on the other, despite both legs sitting in SIC division 73. The information statement describes when-issued trading as 'MBGL WI' from June 26 through June 30; when_issued_ticker is null because that label is a quotation convention rather than an exchange ticker. Form 10 effectiveness is dated from the SEC staff order of June 4, 2026 — no 8-K recites the effectiveness date.