London Stock Exchange buys data provider Refinitiv in $27 billion deal
The London Stock Exchange has agreed to buy financial data provider Refinitiv, creating a British rival to industry juggernaut Bloomberg.
Refinitiv shareholders will end up owning a 37% stake in the London Stock Exchange. The all-share deal values Refinitiv at $27 billion, including its debt.
The purchase comes less than a year after news and information provider Thomson Reuters sold a majority stake in Refinitiv to a group of investors led by private equity group Blackstone.
The London Stock Exchange and Refinitiv had combined revenue of £6 billion ($7.3 billion) in 2018. Together, the companies will be the world’s largest financial markets infrastructure provider.
The deal could give London Stock Exchange the scale needed to compete with financial data industry heavyweight Bloomberg.
Bloomberg, which was founded by billionaire former New York City mayor Michael Bloomberg, provides data feeds and messaging services used by traders, regulators and central bankers.
