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Thomson Reuters Confirms Talks On Possible Acquisition Of Refinitiv By LSE

Thomson Reuters (TRI,TRI.TO) and private equity funds affiliated with Blackstone are in discussions regarding a possible acquisition of the financial data and trading platform provider Refinitiv by the London Stock Exchange Group plc (LSE.L) for a total enterprise value of about US$27 billion, Thomson Reuters confirmed on Monday.

New London Stock Exchange Group shares are contemplated to be issued as consideration in full for Refinitiv's equity value, after adjusting for Refinitiv's net debt and other adjustments, Thomson Reuters said.

The companies anticipate that the transaction would result in Thomson Reuters holding an about 15% stake in London Stock Exchange Group if completed.

Thomson Reuters said, "There can be no certainty that these discussions will progress or that a transaction will be forthcoming."

The Refinitiv business is currently 55% owned by private equity funds managed by Blackstone and 45% by Thomson Reuters. Reuters News 30-year agreement signed last year with Refinitiv will continue if ownership of Refinitiv changes, Thomson Reuters said.

Last year, Blackstone Group acquired a majority stake in Refinitiv from Thomson Reuters Corp, valuing the company at the time at $20 billion including debt.

On Saturday, London Stock Exchange Group confirmed that it was in discussions to buy Refinitiv for a total enterprise value of about US$27 billion.

The LSE said it would pay for the transaction entirely with the issuance of new shares. That will result in Refinitiv shareholders owning about 37 per cent of the combined group, though they will have less than 30 per cent of its voting rights.

On Saturday, Deutsche Boerse AG (DBOEY.PK,DBOEF.PK) said that it did not expect its discussions with Refinitiv Holdings on a potential purchase of certain FX business units to be successfully completed, following statement by London Stock Exchange Group confirming discussions about a possible acquisition of Refinitiv Holdings Ltd.

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