Douglas L. Peterson, President and Chief Executive Officer of S&P Global, said:
The European Commission’s decision provides clarity on the steps we will need to implement to complete our combination. Once concluded, I expect the merger of these two great businesses to accelerate innovation within our core services and generate exciting new opportunities that deliver on our capacity to power the markets of the future.
Lance Uggla, Chairman and Chief Executive Officer of IHS Markit, added:
Our teams have been working closely with the relevant regulatory authorities to achieve this important milestone for our merger. Once combined, the new company will deliver a broader set of information and insights that will drive the growth and performance of our customers.
The EC raised concerns that IHS Markit’s acquisition by S&P Global would reduce competition and lead to potential price increases. In response, S&P Global has agreed to divest CUSIP Global Services and its Leveraged Commentary and Data (LCD) business, together with a related family of leveraged loan indices.
The two companies have also agreed to divest IHS Markit’s Oil Price Information Services (OPIS), Coal, Metals and Mining (CMM), and PetroChem Wire (PCW) businesses. IHS Markit and S&P Global are also currently exploring a divestment option of IHS Markit’s base chemicals business in response to concerns raised by the United Kingdom’s Competition and Markets Authority.
S&P Global and IHS Markit expect the acquisition to close in the first quarter of 2022.
Independent writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.