MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, June 12, 2014 The LSE and Russell Near the $2.8B Finish Line It looks like this deal may actually happen. The Financial Times reports that the London Stock Exchange is close to buying Russell for $2.8 billion. FT reporters Ed Hammond, Neil Hume, Arash Massoudi and Philip Stafford report that both sides have reached a tentative agreement on the price as well as the structure of the deal, citing anonymous sources. They also report that these sources say that an announcement about the deal is slated for later this month. However, the FT reporters warn, the talks are still ongoing and the price mix of debt and equity to fuel the deal has yet to be decided. News of the deal first broke in May. It would be the biggest deal yet for the LSE, which has proven itself a master in equity deals. The deal would be a giant leap for the LSE, providing the exchange operator an invasion force into the U.S. with a solid offering of index products. It may also encourage other exchange operators and foreign players to enter the American asset management mix. However, the FT reporters cite a source who warns that a number of details have to be ironed before this deal is certain. Printed from: MFWire.com/story.asp?s=48764 Copyright 2014, InvestmentWires, Inc. All Rights Reserved |