Summary
S&P Global Inc. (SPGI) has announced a significant divestiture as part of its pending merger with IHS Markit. On August 2, 2021, the company, along with IHS Markit, revealed the execution of a Stock and Asset Purchase Agreement with News Corporation. This agreement involves the sale of certain IHS Markit pricing information businesses, specifically the Oil Price Information Service (OPIS) and the Coal, Metals and Mining business, to News Corporation for approximately $1.15 billion, subject to customary adjustments. This transaction is a strategic move to satisfy regulatory requirements and facilitate the closing of the larger merger between S&P Global and IHS Markit. Investors should note that the completion of this divestiture is contingent upon standard closing conditions, including regulatory approvals and the successful conclusion of the S&P Global-IHS Markit merger. The sale represents a proactive step by S&P Global to streamline its operations and obtain necessary approvals for its substantial acquisition.
Key Highlights
- 1S&P Global Inc. (SPGI) and IHS Markit announced the sale of specific IHS Markit businesses to News Corporation.
- 2The divested businesses include the Oil Price Information Service (OPIS) and Coal, Metals and Mining.
- 3The sale price for these businesses is $1.15 billion, subject to customary adjustments.
- 4This divestiture is a condition for the completion of the S&P Global and IHS Markit merger.
- 5The transaction requires customary closing conditions, including regulatory approvals.
- 6The agreement was executed on July 31, 2021, and announced via a joint press release on August 2, 2021.