NEW YORK, Dec. 20 /PRNewswire/ -- Standard & Poor's will make the following changes to the S&P SmallCap 600 after the close of trading on Monday, December 31:
-- S&P REIT Composite constituent Extra Space Storage Inc. will replace First Indiana Corp. (NASD: FINB). First Indiana is being acquired by S&P 500 constituent Marshall & Ilsley in a deal expected to close on or about that date, pending final approvals. -- The Navigators Group Inc. (NASD: NAVG) will replace Chittenden Corp. . Chittenden is being acquired by People's United Financial Inc. (NASD: PBCT) in a deal expected to close on or about that date, pending final approvals.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: http://www.standardandpoors.com/.
Extra Space Storage is a REIT specializing in self-storage properties. Headquartered in Salt Lake City, UT, the company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Specialized REITs Sub-Industry index.
The Navigators Group is an international insurance holding company. Headquartered in New York, NY, the company will be added to the S&P SmallCap 600 GICS Property & Casualty Insurance Sub-Industry index.
Following is a summary of the changes: S&P SMALLCAP 600 INDEX - December 31, 2007 COMPANY GICS ECONOMIC GICS SUB-INDUSTRY SECTOR ADDED Extra Space Storage Financials Specialized REITs Navigators Group Financials Property & Casualty Insurance DELETED First Indiana Financials Regional Banks Chittenden Financials Regional Banks
Additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the companies concerned.
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