United Communications Group, a U.S. privately owned information company, said on Monday it had terminated an agreement to sell its subsidiary Oil Price Information Service (OPIS) to Platts. "Since the initial announcement, our customers have informed us of their opposition to this combination," Brian Crotty, CEO of OPIS, said in a statement. "In light of the concerns expressed by our customers, we have notified Platts that we are exercising our right to terminate the acquisition agreement." Platts, a unit of McGraw-Hill that provides energy and other commodity prices and news, said on Dec. 8 that it will buy OPIS for an undisclosed sum. The leading oil price assessment agency had said the deal would give it a greater share of the oil pricing market used as a benchmark by producers and refiners to price products, especially in the rack business where OPIS has been dominant.
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