News Corp To Buy OPIS & Related Assets From S&P Global, IHS Markit For $1.15 Bln Cash - Quick Facts

(RTTNews) - News Corp. (NWSA, NWS) announced Monday that it has entered into an agreement to acquire the Oil Price Information Service (OPIS) and related assets from S&P Global (SPGI) and IHS Markit (INFO) for about $1.15 billion in cash. This also includes the Coal, Metals and Mining as well as PetroChem Wire businesses. News Corp also expects to receive an estimated tax benefit of $180 million as part of the transaction.

The acquired businesses will become part of Dow Jones' burgeoning Professional Information Business (PIB), which includes Dow Jones Risk & Compliance, Dow Jones Newswires and Factiva.

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.

The sale is expected to be completed at the close of 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 continue to expect to close the proposed merger in the fourth quarter of 2021, subject to the satisfaction of specified closing conditions.