News Corporation (NasdaqGS:NWSA) entered into an agreement to acquire Oil Price Information Services (OPIS), Coal, Metals and Mining and PetroChem Wire businesses from IHS Markit Ltd. (NYSE:INFO) for approximately $1.2 billion in cash in July, 2021. The purchase price is subject to customary adjustments. The scaled, highly profitable, and consistently growing digital data, analytics and insights provider will become part of Dow Jones' burgeoning Professional Information Business (PIB), which includes Dow Jones Risk & Compliance, Dow Jones Newswires and Factiva.

The transaction is subject to customary closing conditions, including regulatory approvals, antitrust authorities on their adequacy of the proposed divestiture and the consummation of the S&P Global and IHS Markit merger. The acquisition is expected in the fourth quarter of this calendar year. As of February 4, 2022, the transaction is expected to close in the second half of fiscal 2022. As of February 8, 2022, News Corporation plans to use the net proceeds from the $500 million offering for general corporate purposes, including to fund the acquisitions of the Base Chemicals and Oil Price Information Service businesses from S&P Global Inc. and IHS Markit Ltd. Oliver Smith, Michael Mollerus, Pritesh P. Shah and Kyoko Takahashi Lin of Davis Polk & Wardwell LLP is serving as legal counsel for IHS Markit. Saee Muzumdar of Gibson, Dunn & Crutcher LLP acted as a legal advisor and Morgan Stanley acted as financial advisor to News Corporation.

News Corporation (NasdaqGS:NWSA) completed the acquisition of Oil Price Information Services (OPIS), Coal, Metals and Mining and PetroChem Wire businesses from IHS Markit Ltd. (NYSE:INFO) on February 28, 2022.