IHS Markit : CMA gives green light on $44bn S&P-IHS data providers merger

THE UK's competition watchdog has cleared the way for a multibillion pound merger between two of the world's leading financial market data providers.

The Competition and Markets Authority (CMA) said today the $44bn (£32bn) tie up between IHS Markit and S&P Global could be allowed to go ahead if competition concerns were addressed.

The CMA uncovered limited competition concerns from an investigation into the proposed merger, it said.

However, the regulator did take issue with the large position both firms hold in the supply of commodity markets data, flagging that "S&P and IHS Markit have a significant combined presence, compete closely with one another and would face only limited competition after the merger" in that specific area.

However, if these concerns were dealt with, the deal could go ahead.

The pair now have five working days to propose remedies in order to avoid facing another probe by the CMA.

The tie up has been investigated by competition regulators in countries outside the UK.

(c) 2021 City A.M., source Newspaper