UK Watchdog May Accept S&P Global, IHS Markit Undertakings to Clear Deal
SPGI
By Ian Walker
The U.K. Competition and Markets Authority said Tuesday that the undertakings provided by S&P Global Inc. and IHS Markit Ltd. may satisfy its concerns over the deal and be accepted.
The regulator said last week that S&P Global's planned $44 billion acquisition of IHS Markit could harm competition within its markets and that it was considering whether to accept undertakings from the companies to address this.
S&P Global and IHS said on Oct. 19 that they had discussed a number of divestiture options that they believed should satisfy the U.K. regulator's concerns, and which they planned to formally submit to the CMA.
They have already agreed to sell IHS Markit's Oil Price Information Services; Coal, Metals and Mining; and PetroChem Wire businesses to News Corp., the parent company of Dow Jones & Co., publisher of the Wall Street Journal and Dow Jones Newswires, subject to the relevant regulatory approvals.
The companies have also discussed with the CMA the possible sale of IHS Markit's base chemicals business to address any remaining concerns.
The CMA said it has until Dec. 30 to decide whether to accept these undertakings.
On Friday, the European Commission conditionally approved the deal. It said that the EU executive branch's approval was conditional on the divestment of some of IHS Markit's commodity-price assessment services and a number of S&P Global businesses in the financial data and infrastructure area.
S&P Global in November last year agreed to acquire IHS Markit, in a deal that would combine two of the largest providers of data to Wall Street.
Write to Ian Walker at [email protected]
(END) Dow Jones Newswires
10-26-21 0730ET