Morningstar Agrees to Buy LCD for Up to $650 Million in Cash

Morningstar Inc. agreed to buy data and news service provider Leveraged Commentary & Data from S&P Global for as much as $650 million in cash.

Chicago-based Morningstar will pay $600 million at closing and agreed to make an additional payment of $50 million six months later, if certain conditions related to the transition of LCD customers are met, according to a statement. The sale was required by European regulators to clear S&P’s $39 billion acquisition of IHS Markit Ltd., which closed at the end of Feburary.

Morningstar, which is known for its investment research and mutual fund ratings, plans to ...