- Published: 30 December 2008
- Written by Editor
Standard & Poor's will make the following changes to the S&P 500 and S&P SmallCap 600 indices:
-- Iron Mountain Inc. (NYSE: IRM) will replace UST Inc. (NYSE: UST) in the S&P 500 after the close of trading on a date to be announced. UST is in the process of being acquired by S&P 100 and 500 constituent Altria Group Inc. (NYSE: MO) in a deal that is anticipated to close in the first full week of 2009.
-- ALPHARMA Inc. (NYSE: ALO) will be removed from the S&P SmallCap 600 after the close of trading on Tuesday, December 30. The company has been acquired by S&P 500 constituent King Pharmaceuticals Inc. (NYSE: KG) in a tender offer that expired today.
Franklin Street Properties Corp. (NYSE: FSP) will take the place occupied by ALPHARMA in the S&P SmallCap 600 after the close of trading on Wednesday, December 31.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: www.standardandpoors.com.
Iron Mountain provides information protection and storage services. Headquartered in Boston, MA, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Diversified Support Services Sub-Industry Index.
Franklin Street Properties is a REIT which operates in two business segments: real estate operations and investment banking/investment services. Headquartered in Wakefield, MA, the company will be added to the S&P SmallCap 600 GICS Office REITs Sub-Industry Index.
Following is a summary of the changes:
S&P 500 INDEX - TBA
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Iron Mountain Industrials Diversified Support Services DELETED UST Consumer Staples Tobacco
S&P SMALLCAP 600 INDEX - December 30, 2008
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY DELETED ALPHARMA Health Care Pharmaceuticals