SPGI - News Corp to acquire Base Chemicals for $295 million in cash

News Corp (NASDAQ:NWS) inks an agreement to acquire the Base Chemicals business from S&P Global and IHS Markit. The Companies reached the deal following the UK Competition and Markets Authority's request that IHS Markit divests Base Chemicals as part of the S&P Global and IHS Markit merger plans. The Base Chemicals business of IHS Markit to Join OPIS in Creating and Growing an Energy, Chemicals and Renewables Vertical at Dow Jones. The OPIS acquisition (along with related assets), also from S&P Global and IHS Markit, was announced in August. News Corp expects to receive a step up in tax basis resulting in an annual deduction over the next 15 years with an estimated tax benefit of ~$46 million on a present value basis. In its most recent fiscal year, ended November 30, 2021, Base Chemicals was expected to generate ~$65 million in revenues.

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News Corp to acquire Base Chemicals for $295 million in cash