U.S. buyout fund Blackstone Group Inc is expected to announce the merger of its ...
LONDON - U.S. buyout fund Blackstone Group Inc is expected to announce the merger of its majority-owned financial data firm Refinitiv with the London Stock Exchange Group Plc within a week, but the deal is expected to face a long antitrust review before it can close, four sources told Reuters.
Thomson Reuters spokesman David Crundwell declined to comment. Representatives at Refinitiv, Blackstone and the LSE also declined to comment. Investor groups in Europe have been lobbying for stock exchanges to cut the price of stock transactions data so that a “consolidated” feed of prices from different platforms can be created at a reasonable cost.Blackstone and other Refinitiv investors will also face several share lock-up periods, with the first expected to last through 2022, depending on the length of the antitrust review.
If successful, Blackstone will have roughly doubled the value of its original investment in Refinitiv in nine months.
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