Following the scheduled completion of the acquisition of K-Swiss by E-Land World tomorrow, Standard & Poor's will replace the sneaker maker in its SmallCap 600 index with Taylor Capital , a provider of commercial banking products and services, S&P announced Friday.
Taylor will be added to the regional banks sub-industry index. Taylor Capital Group has a market cap of about $415 million. S&P said additions to and deletions from an index do not in any way reflect an opinion on the investment merits of the companies involved.
Standard & Poor's is a subsidiary of The McGraw-Hill Companies and is the world's largest, global resource for index-based concepts, data and research. It has more than 830,000 indices covering a wide range of assets classes across the globe, including the iconic S&P 500 and Dow Jones Industrial Average.
The article Taylor Capital to Join S&P SmallCap 600 originally appeared on Fool.com.
Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.