In a twist that adds to the day’s dramatic narrative, the LSE operator clarified that it remained on the sidelines during this massive placement and retail offer. Hence, it wouldn’t be pocketing any proceeds from this financial spectacle. Furthermore, LSEG revealed another bombshell: a direct off-market buyback of 9.5 million shares from the consortium, shelling out £750 million for the acquisition.
A Historical Lens and Future Restrictions
The bond between Blackstone, Thomson Reuters, and LSEG isn’t a fresh affair. Their ties trace back to the colossal $27 billion deal where they handed over Refinitiv, a prominent financial data provider, to LSEG. March saw this group lighten their LSEG portfolio by 28 million shares, netting £2 billion, followed by a May sale of another 33 million shares, cashing in £2.7 billion.
For now, the consortium finds itself in a self-imposed financial straitjacket, barred from offloading more LSEG shares for a period of 180 days due to a lock-up agreement.
Leading this financial marathon were industry stalwarts – Barclays Bank PLC, BofA Securities, Goldman Sachs International, J.P. Morgan Securities PLC, and Morgan Stanley – wearing the dual hats of global coordinators and bookrunners.
