S&P Global, IHS Markit secure final regulatory approval for merger
S&P Global (NYSE:SPGI) and IHS Markit (NYSE:INFO) today announced that the UK’s Competition and Markets Authority and the European Commission have granted the final regulatory approvals necessary for the companies to close their merger.
The companies expect to complete their combination on Monday, February 28.
In January 2022, the CMA opened a consultation on undertakings proposed by S&P Global Inc. (S&P) and IHS Markit Ltd. (IHSM) to address competition concerns over the anticipated acquisition by S&P of IHSM.
On 19 October 2021, the CMA announced that it would refer the acquisition for an in-depth investigation unless S&P and IHSM offered acceptable undertakings to address the CMA’s concerns.
To address the CMA’s concerns, S&P and IHSM have offered to undertakings to divest IHSM’s: (i) Coal, Metals and Mining division; (ii) Oil Price Information Service business , which includes Petrochem Wire; and (iii) Base Chemicals business.
On 26 October 2021, the CMA announced that it would look in detail at these undertakings. The CMA had until 25 February 2022 to consider whether to accept the undertakings, or a modified version of them.
“We are pleased to mark this final step toward completing our merger and combining these two world-class companies,” said Douglas L. Peterson, President and Chief Executive Officer of S&P Global. “With the close now imminent, we are ready to accelerate progress, implement new ways to serve our customers and people, and create value for our shareholders.