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S & P to add Helmerich & Payne to S & P 500 Index

Mon, 02/22/2010 - 2:30pm
The Associated Press

Standard & Poor's said Monday that Helmerich & Payne Inc. will replace IMS Health Inc. in the S&P 500 Index on Friday as IMS is bought in a deal expected to close on or near the end of the week.

Affiliates of TPG Capital LP and the Canada Pension Plan Investment Board plan to acquire IMS.

Oil and gas drilling company Helmerich, which is a constituent of the S&P MidCap 400, will be replaced by Prosperity Bancshares Inc., a retail and commercial banker. Helmerich is based in Tulsa, Okla.

Prosperity, a Houston-based member of the S&P SmallCap 600, will be replaced by Interactive Intelligence Inc. Interactive Intelligence, based in Indianapolis, makes software for Internet telephone communications.

S&P said it would monitor the pending IMS deal and post any changes to its Web site.

In after-hours trading, shares of Helmerich & Payne traded up to $43.15 from Monday's close of $41.74.

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