Biden Administration May Scrutinize S&P Deal

S&P Global’s plan to buy IHS Markit for US$44 billion will face hard questions from the incoming administration of President-elect Joe Biden, reported Reuters.

The deal will create a stronger No. 3 in the financial information market by bringing together S&P Global’s expertise in providing debt ratings to countries and companies and data on capital and commodity markets, with IHS’ pricing and reference data for financial assets and derivatives.

Consolidation among financial information services providers is intensifying as companies seek to become one-stop-shops for financial professionals using data to run models and algorithms that influence billions of dollars of capital flows.

The merged company will continue to trail industry leaders Bloomberg LP and Refinitiv – partly owned by Thomson Reuters Corp, the parent of Reuters News – according to market research firm Burton-Taylor.

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