The London Stock Exchange Group Plc said on Friday it was in discussions to acqu...
LSE said it would pay for the deal with newly issued LSE shares as currency, turning Refinitiv’s existing investors into LSE shareholders who would own about 37% of the combined company and hold less than 30% of the voting rights.
LSE and Thomson Reuters both cautioned that there is no certainty that discussions between the parties will progress or that a transaction will be forthcoming. A person familiar with the matter said on Friday that if the negotiations conclude successfully, a deal could be agreed next week. LSE operates equity and derivatives markets that include the London Stock Exchange, Borsa Italiana, MTS and Turquoise. It is also the majority owner of LCH, which dominates euro swaps clearing. Its information services business includes financial indexing, benchmarking and analytics services.LSE Chief Executive David Schwimmer is a former Goldman Sachs Group Inc banker of 20 years who has raised expectations of big deals.
It caters to traders and investment professionals, who also use LSE’s exchanges. It is the biggest client for news of Reuters News under a 30-year contract signed last year.
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