Data group S&P gains EU nod for $44 bln IHS takeover
An S&P International brand is displayed within the monetary district in New York Metropolis, U.S., December 13, 2018. REUTERS/Brendan McDermid
BRUSSELS, Oct 22 (Reuters) – Enterprise data supplier S&P International Inc on Friday moved a step nearer to market-leading duo Bloomberg and Refinitiv after gaining EU antitrust approval for its $44 billion takeover of IHS Markit .
S&P introduced the proposed deal , persevering with sector consolidation as firms sought to create one-stop retailers to draw the largest shoppers and put money into synthetic intelligence and machine studying.
The European Fee permitted the deal on situation S&P sells IHS Markit’s U.S Oil Pricing Company Oil Worth Data Service (OPIS), PetroChemWire and its coal, metals and mining companies to resolve overlaps in worth assessments for oil, coal, biofuels and petrochemicals.
S&P had already clinched a deal in August to promote these property to Information Corp for $1.15 billion.
It additionally agreed to promote its CUSIP issuance and information licensing enterprise and leveraged mortgage 100 index household and its leveraged mortgage market intelligence product Mortgage Commentary and Knowledge (LCD).
“With this conditional approval the problematic overlaps in commodity worth assessments, and likewise within the space of mortgage identifiers and indices, are totally eliminated,” European antitrust chief Margrethe Vestager mentioned in a press release.
Reuters solely reported on Oct. 12 that S&P would win EU approval for the deal.
S&P International is a distant third behind Bloomberg and Refinitiv when it comes to annual income, primarily based on information from market analysis agency Burton-Taylor.
Thomson Reuters, father or mother of Reuters Information, competes with Platts, Argus and OPIS in offering information and data to grease markets.
Reporting by Foo Yun Chee
Modifying by Louise Heavens and David Goodman
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