Strong Schwimmer

10 December 2020 By Liam Proud Follow @liamwardproud

CEO David Schwimmer, formerly of Goldman Sachs, seems to have done his old buddies a favour: fees on the exchange group’s $27 bln takeover of data provider Refinitiv exceed $1 bln. It reflects long regulatory reviews and the target’s complex finances. Both are becoming the norm.

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London Stock Exchange Group on Dec. 9 published a prospectus giving extra details on its proposed $27 billion acquisition of financial-data provider Refinitiv.

Total transaction costs, including legal and financial advice, will be around 358 million pounds, the document said, while financing expenses would be 477 million pounds.

European Union competition officials are due to rule on the takeover in January. Reuters has reported that the deal is set to get the green light. Thomson Reuters, the parent company of Reuters Breakingviews, owns 45% of Refinitiv.

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