The board of IHS Markit Ltd. approved an increase to the size of the company's share repurchase authorization to up to $2.25 billion from up to $1.5 billion.

In addition, the termination date of the share repurchase authorization was extended to May 31, 2018, from Nov. 30, 2017.

The company may repurchase common shares on the open market from time to time, in privately negotiated transactions, or through accelerated repurchase agreements, at its discretion. The authorization will be funded using the company's existing cash, cash equivalents, marketable securities and future cash flows, or through the incurrence of short- or long-term debt.