The London Stock Exchange Group Plc’s expected $27 billion purchase of financial...
). The meeting would set in motion a sequence of events involving Blackstone, Refinitiv and the LSE that led to a deal expected as soon as this week.
However, by the time Blackstone inked its deal with Thomson Reuters, some of Blackstone’s dealmakers had reached the same conclusion. It is a quick sale for a private equity firm, which typically holds on to assets for three to five years. Blackstone and its co-investors will immediately double on paper their roughly $4 billion investment in Refinitiv, two sources close to Blackstone said. The private equity firm will be paid with LSE shares and expects to remain invested for years.Craig and Baratta followed up the meeting at the flower show with several others, and were joined by Thomson Reuters executives and bankers.
Further, some members of the Thomson Reuters board, including chairman David Thomson, did not initially want to sell the F&R division because they worried a deal could undervalue the business, according to two sources.By the summer of 2016, three sources close to Blackstone said the private equity firm had come up with a structure for a deal for F&R.
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