Data group S&P gains EU nod for $44 billion IHS takeover

Tajammul Pangarkar
Tajammul Pangarkar

Updated · Oct 22, 2021

SHARE: is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Learn more.
Advertiser Disclosure

At Scoop, we strive to bring you the most accurate and up-to-date information by utilizing a variety of resources, including paid and free sources, primary research, and phone interviews. Our data is available to the public free of charge, and we encourage you to use it to inform your personal or business decisions. If you choose to republish our data on your own website, we simply ask that you provide a proper citation or link back to the respective page on Scoop. We appreciate your support and look forward to continuing to provide valuable insights for our audience.

October 22, 2021

By Foo Yun Chee

BRUSSELS (Reuters) – Business information provider S&P Global Inc on Friday moved a step closer to market-leading duo Bloomberg and Refinitiv after gaining EU antitrust approval for its $44 billion takeover of IHS Markit.

S&P announced the proposed deal last November, continuing sector consolidation as companies sought to create one-stop shops to attract the biggest clients and invest in artificial intelligence and machine learning.

The European Commission approved the deal on condition S&P sells IHS Markit’s U.S Oil Pricing Agency Oil Price Information Service (OPIS), PetroChemWire and its coal, metals and mining businesses to resolve overlaps in price assessments for oil, coal, biofuels and petrochemicals.

S&P had already clinched a deal in August to sell these assets to News Corp for $1.15 billion.

It also agreed to sell its CUSIP issuance and data licensing business and leveraged loan 100 index family and its leveraged loan market intelligence product Loan Commentary and Data (LCD).

“With this conditional approval the problematic overlaps in commodity price assessments, and also in the area of loan identifiers and indices, are fully removed,” European antitrust chief Margrethe Vestager said in a statement.

Reuters exclusively reported on Oct. 12 that S&P would win EU approval for the deal.

S&P Global is a distant third behind Bloomberg and Refinitiv in terms of annual revenue, based on data from market research firm Burton-Taylor.

Thomson Reuters, parent of Reuters News, competes with Platts, Argus and OPIS in providing news and information to oil markets.

(Reporting by Foo Yun Chee; Editing by Louise Heavens and David Goodman)

Source Link Data group S&P gains EU nod for $44 billion IHS takeover

Tajammul Pangarkar

Tajammul Pangarkar

Tajammul Pangarkar is a CMO at Prudour Pvt Ltd. Tajammul longstanding experience in the fields of mobile technology and industry research is often reflected in his insightful body of work. His interest lies in understanding tech trends, dissecting mobile applications, and raising general awareness of technical know-how. He frequently contributes to numerous industry-specific magazines and forums. When he’s not ruminating about various happenings in the tech world, he can usually be found indulging in his next favorite interest - table tennis.