London Stock Exchange (LSE) $27 billion bid for Refinitiv

Overview:

• The London Stock Exchange (LSE) has made an all share bid for data company Refinitiv in a deal with an enterprise value of $27 billion.
• The deal will be enacted through the issue of new shares by the LSE to the tune of $14.5 billion. Refinitiv shareholders will own around 37% of the combined group.
• Refinitiv runs a financial market data terminals business and a majority stake was sold by Thomson Reuters to private equity investors led by Blackstone in 2018.
• The company has net debts of around $12.5 billion according to the FT.

Sam Duke