UCG scuttles deal to sell OPIS to Platts

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Gaithersburg, Md.—B-to-b information company UCG announced Sunday that it has scrapped a pending deal to sell Oil Price Information Service to McGraw-Hill Cos.' Platts. An agreed-upon deal was announced in December. “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."

A spokesperson for Platts said, "We can confirm that the sale is off, and that Platts will continue to pursue a variety of other paths to broaden its presence and product offerings to the global energy industry."

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