The quest to build a legitimate competitor to Bloomberg and its ubiquitous terminals continues Monday as IHS Markit and S&P Global confirmed reports about a buyout worth some $44 billion.

According to WSJ, S&P Global plans to buy its smaller rival to create “a powerful challenger to information powerhouses Bloomberg and Refinitiv,” assuming the deal goes ahead.

The move would mark the latest round of consolidation among large data providers: A year ago, the London Stock Exchange moved to acquire Refinitiv – formerly known as Reuters’ financial data business – for $27 billion a year ago. New York Stock Exchange owner Intercontinental Exchanges struck its largest deal ever after it agreed to buy US mortgage data provider Ellie Mae for $11 billion.

As the FT points out, the move would mark the latest round of consolidation among large data providers. New York Stock Exchange owner Intercontinental Exchanges struck its largest deal ever after it agreed to buy US mortgage data provider Ellie Mae for $11 billion. That followed the London Stock Exchange’s move to acquire Refinitiv for $27 billion a year ago.

The deal would bolster S&P Global’s data business as the company struggles to compete with Michael Bloomberg’s eponymous Bloomberg LP. IHS Markit, which was formed from the 2016 merger between IHS and Markit, would boost S&P Global’s data and analytics offerings, making it one of the biggest competitors for Bloomberg’s data business.

The industry has seen a wave of consolidation that in turn has made some regulators anxious. In particular anti-trust agents in Brussels have applied intense scrutiny to this deal and the deal between Refinitive and the London Stock Exchange. We suspect the tie up between IHS and S&P Global could face similar obstacles.

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Via Zerohedge