London Stock Exchange has confirmed that the acquisition of financial data provider Refinitiv in a $27 billion deal is expected to close on 29 January 2021. The merger is still subject to regulatory approvals which are expected to be granted soon.
Refinitiv’s existing shares on London Stock Exchange’s Main Market are expected to be cancelled at 8:00 am on 29 January 2021 and simultaneously re-submitted under the new ticker symbol “LSEG”.
The exchange plans to reapply for admission on its own market as the Refinitiv deal constitutes a reverse takeover under the UK’s listing rules.
The EU regulator said its investigation discovered a number of concerns about the deal, however those could be addressed by a range of remedies
The authorities have been concerned that the acquisition would give the London bourse too much market data control, enabling preferential treatment to customers or blocking out rivals completely.
To appease these concerns, LSE will continue to offer its global OTC interest rate derivatives clearing services on an open-access basis. The Exchange will also provide access to the LSE venue data, FTSE UK Equity Indices and WM/R FX Benchmarks to all existing and future downstream competitors.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.