LSE boss David Schwimmer feels ‘very good’ about Refinitiv deal after snubbing Hong Kong offer
The boss of the London Stock Exchange has said he feels “very good” about merger plans with Refinitiv, in a fresh sign of the group’s reluctance to accept a separate takeover offer from its Hong Kong rival.
LSE chief executive David Schwimmer expressed his enthusiasm for a $27bn (21.6bn) acquisition of data provider Refinitiv at a derivates conference this morning.
Read more: Hong Kong bourse to tell LSE investors: Ditch Refinitiv for us
“It’s a transaction that we feel very good about,” Scwhimmer said today when talking about the proposed Refinitiv deal.
He added: “We think that the Refinitiv transaction is a very strong fit strategically from that perspective, and really positions the London Stock Exchange Group very well to take advantage of growth in these areas.”
The comments are a further sign of the LSE’s preference for a tie-up with Refinitiv over a takeover attempt from rival Hong Kong Exchanges and Clearing, which made a surprise proposal to buy the LSE in a £30bn tie-up.
Read more: Uncertainty mounts over HKEX bid for LSE
The LSE board snubbed a proposed £32bn takeover bid from HKEX, which has since vowed to win round top LSE investors in a charm offensive in the City.