London Stock Exchange Group’s acquisition of financial data and technology firm Refinitiv has been given a further go-ahead by the CFIUS (Committee on Foreign Investment in the United States).
The committee’s review of the transaction has determined that there are no unresolved national security concerns.
Refinitiv, which has more than 40,000 customers and 400,000 end users in 190 countries, was first targeted for acquisition in August of last year. The firm has headquarters in London and New York. It is being purchased from Thompson Reuters Corp and investment funds affiliated to Blackstone Group Inc.
London Stock Exchange said it continues to make progress in relation to the remaining antitrust and regulatory clearances that the transaction is also conditional upon.
It said it remains committed to closing the transaction during the second half of 2020, factoring in set-backs caused by coronavirus. The European Commission has encouraging the delay of merger filings.
“We continue to engage constructively with the European Commission and other relevant regulators and stakeholders to ensure that all filings and approvals proceed as efficiently as possible,” said the firm in a statement.
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Source: Business Cloud