Shareholders of London Stock Exchange vote in favor of Refinitiv deal

Maria Nikolova

The vast majority of LSEG shareholders supported the planned $27 billion acquisition of Refinitiv.

London Stock Exchange Group plc (LSEG plc) has just announced the results of the General Meeting held earlier today for LSEG Shareholders to consider the recommendation of the Board of LSEG plc to acquire Refinitiv. The vast majority of LSEG Shareholders approved the deal.

The receipt of LSEG Shareholders’ approval marks an important milestone towards achieving completion.

In addition to approval by LSEG Shareholders, the Transaction is also conditional upon, among other things, the receipt of relevant antitrust and regulatory clearances and the relevant processes are underway.

Given the Transaction is classified as a Reverse Takeover of LSEG plc under the Listing Rules of the FCA, the Transaction is also conditional on the FCA and London Stock Exchange agreeing to re-admit LSEG plc’s enlarged voting ordinary share capital to the premium listing segment of the Official List and to trading on London Stock Exchange’s Main Market for listed securities. LSEG plc expects to publish a prospectus in relation to Admission shortly prior to completion of the Transaction.

LSEG plc continues to make good progress on integration planning and the Transaction remains on track to close during the second half of 2020.

Let’s recall that LSEG agreed and announced the acquisition of Refinitiv on August 1, 2019. The Exchange views the deal as a transformational transaction, strategically and financially. The combined global business will be headquartered and domiciled in the UK with a premium listing in London.

This is an all-share deal for a total enterprise value of approximately of $27 billion.

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