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Pin to quick picksBarclays Share News (BARC)

Share Price Information for Barclays (BARC)

London Stock Exchange
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Share Price: 202.35
Bid: 202.15
Ask: 202.25
Change: 1.35 (0.67%)
Spread: 0.10 (0.049%)
Open: 202.50
High: 203.40
Low: 199.58
Prev. Close: 201.00
BARC Live PriceLast checked at -

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UPDATE 1-London Stock Exchange expects regulatory nod to Refinitiv deal

Wed, 09th Dec 2020 22:34

(Adds detail on advisers and associated costs)

LONDON, Dec 9 (Reuters) - The London Stock Exchange Group
said on Wednesday it expects the green light from
outstanding regulatory scrutiny of its $27 billion deal to buy
data and analytics company Refinitiv.

"The Group has received 16 merger control clearances to date
and good progress has been made in relation to outstanding
jurisdictions," the London exchange said in a statement.

The LSE said it has published a prospectus and intends to
reapply for admission on its own market as the Refinitiv deal
constitutes a reverse takeover under the UK's listing rules.

"All remaining merger control and regulatory approvals are
expected to enable completion of the transaction and admission
in Q1 2021," the LSE said in a statement.

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

The professional advisers to both LSE and Refinitiv are
expected to earn a combined 835 million pounds ($1.12 billion)
from assisting on the transaction, according to Wednesday's
prospectus.

This is split between costs associated with the deal's
financing worth 477 million pounds, as well as 358 million
pounds of expenses related to "financial advisory,
legal/anti-trust, accounting, admission and other transaction
costs."

LSE's suite of financial advisers were Goldman Sachs Group
Inc, Morgan Stanley, Robey Warshaw, Barclays Plc and RBC Capital
Markets, with Freshfields Bruckhaus Deringer acting as legal
counsel.

Refinitiv was advised by bankers at Evercore Inc, Canson
Capital Partners and Jefferies Financial Group.
($1 = 0.7461 pound)
(Reporting by Huw Jones in London and David French in New York
Editing by Louise Heavens and Matthew Lewis)

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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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