Following the scheduled completion of the acquisition of K-Swiss (NASDAQ: KSWS ) by E-Land World tomorrow, Standard & Poor's will replace the sneaker maker in its SmallCap 600 index with Taylor Capital (NASDAQ: TAYC ) , 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.