New York’s S&P Global gains EU nod for $44 billion IHS takeover

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New York’s S&P Global gains EU nod for $44 billion IHS takeover

S&P Global Inc., the New York City-headquartered American credit rating agency mostly focused on financial research and analysis, had moved closer to a $44 billion takeover of London-based financial information provider IHS after receiving an EU anti-trust nod over the acquisition deal, as S&P Global Inc seems to be narrowing its distance with market leaders such as Bloomberg alongside Refinitiv.

In point of fact, in the context of a growing consolidation in financial data services sector, S&P had announced a $44 billion takeover of IHS back in November last year, largely in a bid to metamorphosize a one-stop marketplace for larger clients while ramping up investments on machine learning alongside artificial intelligence.

S&P Global receives EU nod over IHS takeover

According to the financial terms of EU anti-trust authority, the EU Commission had greenlighted the merger on conditions that S&P Global Inc must divest IHS Markit’s OPIS (Oil Pricing Agency Oil Price Information Service), coal, metals and mining businesses alongside PetorChemWire.

Nonetheless, S&P Global Inc., in tandem, had already cut a deal with News Corp back in August this year to divest the aforementioned assets for an upsum of $1.15 billion. Aside from that, S&P Global Inc had approved a sell-off of its CUSIP issuance alongside data licensing business, while the New York City-based financial information provider also wound sell off its LCD business (leveraged loan market intelligence Product Loan Commentary and Data) alongside Leveraged Loan 100 index group.

Meanwhile, referring to EU Commission’s conditional approval to S&P Global’s acquisition of IHS, EU antirust Chief Margrethe Vestager said in a statement, “With this conditional approval the problematic overlaps in commodity price assessments, and also in the area of loan identifiers and indices, are fully remove”.

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