London Stock Exchange Group PLC Statement Re EC Review of Refinitiv Transaction (7052Q)
June 22 2020 - 11:54AM
UK Regulatory
TIDMLSE
RNS Number : 7052Q
London Stock Exchange Group PLC
22 June 2020
Not for release, publication or distribution, in whole or in
part, in or into or from any jurisdiction where to do so would
constitute a violation of the relevant laws of such
jurisdiction.
22 June 2020
Update on the European Commission Review Related to the Planned
All Share Acquisition of Refinitiv
On 1 August 2019, London Stock Exchange Group plc (LSEG)
announced that it had reached definitive terms to acquire Refinitiv
in an all share transaction for a total enterprise value of
approximately US$27 billion (as at 1 August 2019) (the
Transaction).
LSEG today notes the European Commission's announcement
confirming the commencement of Phase II proceedings in connection
with its review of the Transaction. LSEG continues to engage
constructively with the European Commission and notes that the
Phase II review will enable the European Commission to consider the
Transaction in further detail, as would be expected for a global
transaction of this nature.
LSEG has received a number of antitrust and foreign investment
approvals and continues to make progress in relation to the
remaining clearances and approvals upon which the Transaction is
also conditional. We remain committed to closing the Transaction in
2020.
- Ends -
For further information:
Media: Gavin Sullivan/ Lucie Holloway +44 (0)20 7797 1222
Investor Relations: Paul Froud +44 (0)20 7797 3322
Lucas van Praag, Philip Gawith, Doug Campbell
(Teneo) +44 (0)20 7420 3183
Further information
This announcement is not intended to and does not constitute, or
form part of, an offer, invitation or the solicitation of an offer
to purchase, otherwise acquire, subscribe for, sell or otherwise
dispose of any securities, or the solicitation of any vote or
approval in any jurisdiction, pursuant to the Transaction or
otherwise, nor shall there be any sale, issuance or transfer of
securities of LSEG in any jurisdiction in contravention of
applicable law.
Forward looking statements
This announcement (including information incorporated by
reference in this announcement), oral statements made regarding the
Transaction and other information published in connection with the
Transaction contain statements which are, or may be deemed to be,
"forward-looking statements". Forward-looking statements are
prospective in nature and are not based on historical facts, but
rather on current expectations and projections about future events,
and are therefore subject to risks and uncertainties which could
cause actual results to differ materially from the future results
expressed or implied by the forward-looking statements. The
forward-looking statements contained in this announcement include
statements relating to the expected effects of the Transaction on
LSEG and its group, the expected timing and scope of the
Transaction and other statements other than historical facts.
Often, but not always, forward-looking statements can be identified
by the use of forward-looking words such as "plans", "expects" or
"does not expect", "is expected", "is subject to", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or statements that certain actions, events or results
"may", "could", "should", "would", "might" or "will" be taken,
occur or be achieved.
Although LSEG believes that the expectations reflected in such
forward-looking statements are reasonable, LSEG can give no
assurance that such expectations will prove to be correct. There
are a number of factors that could cause actual results and
developments to differ materially from those expressed or implied
by such forward-looking statements. These factors include the
satisfaction of the conditions to the Transaction as well as
factors such as future market conditions, currency fluctuations,
the behaviour of other market participants, the actions of
regulators and other factors such as changes in the political,
social and regulatory framework, or in economic or technological
trends or conditions. Other unknown or unpredictable factors could
cause actual results to differ materially from those in the
forward-looking statements. Such forward-looking statements should
therefore be construed in the light of such factors.
None of LSEG or any of its associates or directors, officers or
advisers provides any representation, assurance or guarantee that
the occurrence of the events expressed or implied in any
forward-looking statements in this announcement will actually
occur. You are cautioned not to place undue reliance on these
forward-looking statements. Other than in accordance with their
legal or regulatory obligations (including under the Listing Rules,
the Disclosure Guidance and Transparency Rules and the Prospectus
Regulation Rules of the FCA), LSEG is under no obligation, and LSEG
expressly disclaims any intention or obligation, to update or
revise publicly any forward-looking statements, whether as a result
of new information, future events or otherwise.
Transaction conditions
Completion of the Transaction is subject to the satisfaction of
a number of conditions. Consequently, there can be no certainty
that completion of the Transaction will be forthcoming.
Transmission of this announcement
Neither this announcement, nor any copy of it may be taken or
transmitted directly or indirectly into or from any jurisdiction
where to do so would constitute a violation of the relevant laws or
regulations of such jurisdiction. Any failure to comply with this
restriction may constitute a violation of such laws or regulations.
Persons into whose possession this announcement or other
information referred to therein comes, should inform themselves
about, and observe, any restrictions in such laws or
regulations.
Compliance with laws
This announcement has been prepared for the purpose of complying
with the applicable laws and regulations of the United Kingdom and
information disclosed may not be the same as that which would have
been disclosed if this announcement had been prepared in accordance
with the laws and regulations of jurisdictions outside the United
Kingdom.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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June 22, 2020 11:54 ET (15:54 GMT)
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