LSE boss David Schwimmer feels ‘very good’ about Refinitiv deal after snubbing Hong Kong offer
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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.