UK Watchdog Clears S&P Global, IHS Markit Deal

Ian Walker

The U.K. Competition and Markets Authority said Friday that it has accepted undertakings provided by S&P Global Inc. and IHS Markit Ltd. and therefore won't refer the deal for a Phase 2 review.

The regulator, which launched an investigation into S&P Global's planned $44 billion acquisition of IHS Markit last year, said on Oct. 26 that undertakings provided by the companies may satisfy its concerns over the deal and be accepted. At that time, t set a deadline of Feb. 25 for its decision.

The companies had offered a number of undertakings to address the regulator's concerns and on Dec. 27 agreed to sell IHS Markit's Base Chemicals business to News Corp., the parent company of Dow Jones & Co., publisher of the Wall Street Journal and Dow Jones Newswires, for $295 million.

They also said they would sell S&P's CUSIP Global Services business to FactSet Research Systems Inc. for more than $1.9 billion.

In addition S&P has pledged to sell its Leveraged Commentary & Data business, along with a related family of leveraged loan indexes, as a condition for regulatory approval of the IHS deal, which the companies expect to complete in the first quarter of this year.

"The merger between S&P Global Inc. and IHS Markit Ltd. will therefore not be referred to Phase 2 and the undertakings which have been signed by S&P Global Inc. and IHS Markit Ltd. will come into effect from this date," the regulator said Friday.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

February 25, 2022 08:27 ET (13:27 GMT)

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