LSE plans rights issue to fund bid

Comment on this story


LSE

REUTERS

The London Stock Exchange in the City of London.

London - The London Stock Exchange Group said on Thursday it planned to raise $1.6 billion through a rights issue to help fund the acquisition of Frank Russell for $2.7 billion.

The LSE said it had proposed to buy Frank Russell from its Northwestern Mutual owners and other minority shareholders.

It had said in May it was in talks with the owners about a possible acquisition for the investment services firm.

“The directors believe the acquisition is a rare opportunity to acquire a high quality US business with a leading global brand providing index and investment management services,” it said.

Under the plan, Len Brennan, the chief executive of Russell, will join the executive committee of LSE upon completion. - Reuters


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks