S&P Gains EU Approval for $44 Billion Takeover of IHS Markit

The European Commission approved the $44 billion takeover on condition S&P sells IHS Markit’s U.S. Oil Pricing Agency Oil Price Information Service, PetroChemWire and its coal, metals and mining businesses

Foo Yun Chee, Reuters

Business information provider S&P Global Inc. on Oct. 22 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.

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