LSE Mergers and Acquisitions Presentation Deck
Key transaction terms
Purchase price
Management
Governance
Headquarters
London
Stock Exchange Group
All share transaction (1)
Enterprise value of approximately $27bn with an equity value of $14.5bn (²)
Total new shares issued to Refinitiv shareholders will result in approximately 37% (1) economic
interest and less than 30% voting interest in LSEG
Combined business will be chaired by LSEG's Chairman Don Robert and led by LSEG's CEO
David Schwimmer
Refinitiv's CEO David Craig will join LSEG's Executive Committee and continue as CEO of
Refinitiv
3 new members to be added to the Board: 2 from Blackstone and 1 from Thomson Reuters
LSEG will remain in compliance with the UK Corporate Governance Code following completion
LSEG's global business continues to be headquartered in London
LSEG will retain its Premium Listing on the Official List of the FCA and trade on London Stock
Exchange plc's Main Market for listed securities
Note:
(1) LSEG may elect to settle up to $2.5bn of the consideration in cash
(2) Based on Refinitiv's net debt of $12.5bn and other adjustments as of June 2019
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