London Stock Exchange committed to completion of Refinitiv transaction in H2 2020

Maria Nikolova

LSEG says it continues to make good progress on planning for the integration of Refinitiv.

London Stock Exchange Group PLC (LSEG) has earlier today posted a trading statement for the first quarter of 2020, with the statement including an update on the Refinitiv transaction.

The Group says it continues to make good progress on planning for the integration of Refinitiv. A number of workstreams on business structure and opportunities, including synergy realisation, are well developed, and the Integration Management Office has been expanded to bring additional resource to LSEG.

The Group says it continues to make progress with merger control, foreign investment and financial regulatory filings. US foreign investment clearance has been received from CFIUS. Merger control clearance has been received from Botswana, Japan, Kenya and Ukraine, and merger control reviews have commenced in several other jurisdictions.

As disclosed last month, the European Commission has requested a delay to submission of filings by merger parties generally. LSEG says it keeps working constructively with the European Commission case team and is set to file as soon as it is possible to do so. The Group is committed to completion of the transaction in H2 2020.

In August 2019, LSEG announced the acquisition of Refinitiv in an all-share transaction for an enterprise value of approximately $27 billion. The proposed acquisition, which was approved by LSEG’s shareholders in November 2019, significantly accelerates LSEG’s existing strategy to be a leading global financial markets infrastructure provider. Thanks to the deal, LSEG is set to markedly expand its data and analytics offering to create a global multi-asset class capital markets business.

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