GLOBAL - Ratings agency Standard & Poor's (S&P) is to make changes to its S&P 500 and S&P MidCap 400 indices.
Pharmaceuticals distributor The AmerisourceBergen Corporation - formed by the merger of S&P MidCap 400 components AmeriSource Health `A' and Bergen Brunswig - will replace energy company ONEOK in the S&P 500 Index after the close of trading on August 29.
The transaction is subject to shareholder approval.
ONEOK will be transferred to the S&P MidCap 400 Index replacing AmeriSource Health `A'. Lodgings company Extended Stay America will replace Bergen Brunswig in the S&P MidCap 400 Index.
Other changes include insurance company XL Capital replacing Wachovia Corporation in the S&P 500 Index, although no date has yet been fixed for this change. S&P 500 component First Union Corporation is acquiring Wachovia. Again, the transaction is subject to regulatory approval.
By Madhu Kalia
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