London Stock Exchange seeks to buy Refinitiv for $27 billion

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London Stock Exchange seeks to buy Refinitiv for $27 billion

On Friday, the 26th of July 2019, the London Stock Exchange Group Plc., the UK-based stock exchange and financial information company headquartered in London, had issued a public statement saying that the British-based owner of London Stock Exchange, Borsa Italiana, Russell indexes and FTSE International had been looking to acquire financial data analytics provider, Refinitiv Holdings Ltd., jointly owned by the world’s largest asset manager, Blackstone Group LP which holds a stake of 55 percent and Thompson Reuters which owns 45 percent, at a $27 billion buyout deal including debts.

In point of fact, latest news of London Stock Exchange Group Plc.’s interest on purchasing Refinitiv came froth less than a year after Blackstone Group Inc. had purchased a majority stake of the financial data analytics provider from Thomson Reuters, valuing the company at $20 billion including debt.

Thomson Reuters, a professional information company and parent organization of Reuters News, which now holds a 45 percent stake in Refinitiv as beforementioned, had confirmed the news later on Saturday (July 27th) saying that the company would be holding a 15 percent stake on Refinitiv if the deal was completed.

Nonetheless, Refinitiv Holdings Ltd. had $12.2 billion in debts as of December 2018, which was caused due to its leveraged buyout of Blackstone. However, after Financial Times had first reported a progress on proposed buyout deal of Refinitiv on Friday (July 26th), Thomson Reuters’ Canada-listed shares was surged by 4.5 percent to C$92.74 on Friday’s (July 26th) market round off.