S&P Dow Jones Indices said solar technology company Enphase Energy Inc. will be removed from the S&P MidCap 400 index to join the S&P 500, replacing New York-based jewelry maker Tiffany & Co.
French luxury group LVMH Moët Hennessy - Louis Vuitton SE is buying Tiffany in a deal valued at about $15.8 billion.
Luxury fashion company Capri Holdings Ltd. will replace Enphase Energy in the S&P MidCap 400, while fitness drinks maker Celsius Holdings Inc. will replace Capri Holdings in the S&P SmallCap 600.
Elsewhere, semiconductor manufacturing company Brooks Automation Inc. will replace oil and natural gas driller WPX Energy Inc. in the S&P MidCap 400 and cosmetics company e.l.f. Beauty, Inc. will replace Brooks Automation in the S&P SmallCap 600.
Devon Energy Corp., which is a constituent of the S&P 500, is acquiring WPX Energy in an all-stock merger of equals valued at $12 billion.
The changes will be effective before market open Jan. 7, 2021.
S&P Global Market Intelligence and S&P Dow Jones Indices are owned by S&P Global Inc.