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News Corp. to buy IHS Markit fuel data business for $1.15 billion

Source: IHS Markit

S&P Global (NYSE: SPGI) and IHS Markit (NYSE: INFO) today announced an agreement to sell IHS Markit’s Oil Price Information Services (OPIS); Coal, Metals and Mining; and PetroChem Wire businesses to News Corp in a cash transaction valued at approximately $1.150 billion.

The sale is expected to be completed at the close of the merger between S&P Global and IHS Markit.

The agreement marks the culmination of S&P Global and IHS Markit’s previously announced decision to explore a divestiture of these businesses and represents an important milestone on the path to regulatory approval for the merger between S&P Global and IHS Markit.

Both the merger and the divestiture remain subject to further review and approval by regulators and antitrust authorities. S&P Global and IHS Markit will continue to work constructively with all regulatory bodies and antitrust authorities on their continued review of the proposed merger, including the adequacy of the proposed divestiture.

S&P Global and IHS Markit continue to expect to close the proposed merger in the fourth quarter of 2021, subject to the satisfaction of specified closing conditions.

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