RTTNews | Aug 2, 2021 07:48AM EDT

07:47 Monday, August 2, 2021 (RTTNews.com) - News Corp. (NWSA, NWS) announced Monday that it has entered into an agreement to acquire the Oil Price Information Service (OPIS) and related assets from S&P Global (SPGI) and IHS Markit (INFO) for about $1.15 billion in cash. This also includes the Coal, Metals and Mining as well as PetroChem Wire businesses. News Corp also expects to receive an estimated tax benefit of $180 million as part of the transaction.

The acquired businesses will become part of Dow Jones' burgeoning Professional Information Business (PIB), which includes Dow Jones Risk & Compliance, Dow Jones Newswires and Factiva.

The agreement marks the culmination of S&P Global and IHS Markit's previously announced decision to explore a divestiture of these businesses and represents an important milestone on the path to regulatory approval for the merger between S&P Global and IHS Markit.

The sale is expected to be completed at the close of the merger between S&P Global and IHS Markit. Both the merger and the divestiture remain subject to further review and approval by regulators and antitrust authorities.

S&P Global and IHS Markit continue to expect to close the proposed merger in the fourth quarter of 2021, subject to the satisfaction of specified closing conditions.

Read the original article on RTTNews ( https://www.rttnews.com/3214644/news-corp-to-buy-opis-related-assets-from-s-p-global-ihs-markit-for-1-15-bln-cash-quick-facts.aspx)

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