LSE shares go sky-high as $27 billion Refinitiv acquisition looms
London Stock Exchange (LSE) Group shares escalated to a sky-high 15.3% on Monday, revved up by its bid to acquire financial data firm in Refinitiv Holding Ltd. for $27 billion and a chance to expand its market influence at a global scale.
Economy analysts and investors share the same insight that LSE’s merge with Refinitiv is definitely a strategic move that will wipe out doubts of possible big financial risk as previous market tie-ups failed.
The tie-up of LSE and Refinitiv is considered a big threat to Bloomberg, the main source of fund managers in recent years. It will also give LSE a reputation of becoming a big information services entity.
Refinitiv is currently owned by Blackstone Group Inc. as it bought a majority share from Thomson Reuters via $20 billion buyout while it still holds 45% shares in Refiinitiv.
Sources said that the deal might be announced this week.
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