UK's CMA Conditionally Approves S&P's Merger With IHS Markit - Quick Facts

(RTTNews) - S&P Global (SPGI) and IHS Markit (INFO) announced Tuesday that the UK Competition and Markets Authority or CMA, has approved their merger, saying it 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.

The parties have also previously 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.