diff --git a/llvm/lib/Transforms/Utils/SimplifyCFG.cpp b/llvm/lib/Transforms/Utils/SimplifyCFG.cpp
--- a/llvm/lib/Transforms/Utils/SimplifyCFG.cpp
+++ b/llvm/lib/Transforms/Utils/SimplifyCFG.cpp
@@ -253,7 +253,8 @@
   bool tryToSimplifyUncondBranchWithICmpInIt(ICmpInst *ICI,
                                              IRBuilder<> &Builder);
 
-  bool HoistThenElseCodeToIf(BranchInst *BI, const TargetTransformInfo &TTI);
+  bool HoistThenElseCodeToIf(BranchInst *BI, const TargetTransformInfo &TTI,
+                             bool EqTermsOnly);
   bool SpeculativelyExecuteBB(BranchInst *BI, BasicBlock *ThenBB,
                               const TargetTransformInfo &TTI);
   bool SimplifyTerminatorOnSelect(Instruction *OldTerm, Value *Cond,
@@ -1388,9 +1389,12 @@
 
 /// Given a conditional branch that goes to BB1 and BB2, hoist any common code
 /// in the two blocks up into the branch block. The caller of this function
-/// guarantees that BI's block dominates BB1 and BB2.
+/// guarantees that BI's block dominates BB1 and BB2. If EqTermsOnly is given,
+/// only perform hoisting in case both blocks only contain a terminator. In that
+/// case, only the original BI will be replaced and selects for PHIs are added.
 bool SimplifyCFGOpt::HoistThenElseCodeToIf(BranchInst *BI,
-                                           const TargetTransformInfo &TTI) {
+                                           const TargetTransformInfo &TTI,
+                                           bool EqTermsOnly) {
   // This does very trivial matching, with limited scanning, to find identical
   // instructions in the two blocks.  In particular, we don't want to get into
   // O(M*N) situations here where M and N are the sizes of BB1 and BB2.  As
@@ -1427,6 +1431,16 @@
       ++NumHoistCommonCode;
   });
 
+  // Check if only hoisting terminators is allowed. This does not add new
+  // instructions to the hoist location.
+  if (EqTermsOnly) {
+    if (!I1->isIdenticalToWhenDefined(I2))
+      return false;
+    if (!I1->isTerminator())
+      return false;
+    goto HoistTerminator;
+  }
+
   do {
     // If we are hoisting the terminator instruction, don't move one (making a
     // broken BB), instead clone it, and remove BI.
@@ -6443,9 +6457,9 @@
   // can hoist it up to the branching block.
   if (BI->getSuccessor(0)->getSinglePredecessor()) {
     if (BI->getSuccessor(1)->getSinglePredecessor()) {
-      if (HoistCommon && Options.HoistCommonInsts)
-        if (HoistThenElseCodeToIf(BI, TTI))
-          return requestResimplify();
+      if (HoistCommon &&
+          HoistThenElseCodeToIf(BI, TTI, !Options.HoistCommonInsts))
+        return requestResimplify();
     } else {
       // If Successor #1 has multiple preds, we may be able to conditionally
       // execute Successor #0 if it branches to Successor #1.
diff --git a/llvm/test/Transforms/SimplifyCFG/common-code-hoisting.ll b/llvm/test/Transforms/SimplifyCFG/common-code-hoisting.ll
--- a/llvm/test/Transforms/SimplifyCFG/common-code-hoisting.ll
+++ b/llvm/test/Transforms/SimplifyCFG/common-code-hoisting.ll
@@ -110,8 +110,8 @@
 }
 
 ; A example where only the branch instructions from %if.then2 and %if.end3 need
-; to be hoisted, which effectively replaces the original branch in %if.end. As
-; this does not add any new instructions to the hoist location, it should always be profitable.
+; to be hoisted, which effectively replaces the original branch in %if.end and
+; only requires selects for PHIs in the successor.
 define float @clamp_float_value(float %value, float %minimum_value, float %maximum_value) {
 ; HOIST-LABEL: @clamp_float_value(
 ; HOIST-NEXT:  entry: