Benzinga | Oct 19, 2021 07:53AM EDT

S&P Global And IHS Markit Announce UK CMA Decision That Merger 'does not raise potential competition concerns, except in relation to certain commodity and petrochemical price assessments in the UK'

S&P Global (NYSE:SPGI) and IHS Markit (NYSE:INFO) today provided the following update regarding the decision by the UK Competition and Markets Authority ("CMA") that the merger of S&P Global and IHS Markit does not raise potential competition concerns, except in relation to certain commodity and petrochemical price assessments in the UK.

To address the CMA's potential concerns, S&P Global and IHS Markit have previously discussed the divestiture of IHS Markit's Oil Price Information Services (OPIS); Coal, Metals and Mining; and PetroChem Wire businesses. As previously announced, the parties have agreed to a sale of these businesses to News Corp, subject to approval of relevant antitrust authorities. The companies have further discussed with the CMA the divestiture of IHS Markit's base chemicals business (comprising the Market Advisory Service and World Analysis businesses) to address any remaining concerns.

S&P Global and IHS Markit will now formally submit these remedy proposals to the CMA. The companies consider the proposed remedies sufficient to address the CMA's competition concerns and obtain clearance for their transaction in Phase 1.

The CMA will provisionally decide whether the remedy proposals are sufficient by November 2, 2021.