By Dave Sebastian 
 

S&P Global Inc. and IHS Markit Ltd. said they have gotten a conditional phase-one approval from the European Commission for their $44 billion deal, bringing the companies a step closer toward closing their combination.

S&P Global in late 2020 agreed to buy IHS Markit for about $44 billion, a landmark deal that would combine two of the largest providers of data to Wall Street. The companies on Friday said they expect to close the deal in the first quarter of 2022.

To address concerns raised by the commission, S&P Global said it has committed to divest CUSIP Global Services and its Leveraged Commentary and Data business, as well as a related set of leveraged loan indexes.

IHS Markit has also agreed to divest its Oil Price Information Services; Coal, Metals and Mining; and PetroChem Wire businesses, and is exploring a divestiture of its base chemicals business to address concerns raised by the U.K.'s Competition and Markets Authority.

The acquisition and divestitures remain subject to review by other regulators and antitrust authorities, including in the U.S. and Canada, the companies said.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

October 22, 2021 12:45 ET (16:45 GMT)

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