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LSE shares jumped to record highs
London Stock Exchange shares rose 15% on Monday to a record £ 6,532 amid news of possible LSE acquisition of major data exchange operator Refinitiv.
Refinitiv is currently held by Blackstone Group and Thomson Reuters. According to some reports, the deal, which is estimated at $ 27 billion, could take place this week..
The merger with Refinitiv will significantly expand the information services business of the LSE, which the exchange operator sees as a more stable source of cash flow than its core business..
JP Morgan believes the deal will expand the LSE’s data, analytics and dissemination capabilities, as well as expand its international presence. It would also allow the LSE to diversify its asset class by expanding its foreign currency and fixed income business..
The LSE’s latest attempt to strike a similar deal fell through in 2017 when European regulators blocked the purchase of Deutsche Boerse. The upcoming agreement is expected to be subject to a lengthy antitrust review. In turn, investors and analysts said they did not expect any significant problems.
Bloomberg, Blackstone and Thomson Reuters declined to comment.