Business information provider S&P Global Inc SPGI.N has sought EU antitrust approval for its $44 billion acquisition of IHS Markit Ltd INFO.N, with an EU decision due by Oct. 8, according to a European Commission filing on Monday.

The deal, announced in November last year, marks the latest consolidation in the fragmented financial information services industry as companies seek to create one-stop shops to lure the biggest clients and invest in artificial intelligence and machine learning.

The Commission can clear the deal with or without concessions after its preliminary review or it can open a four-month long investigation if it has serious concerns.  The UK competition watchdog is also investigating the deal, with an Oct. 19 deadline for its initial review.

Source:  Nasdaq