London Stock Exchange Group said on 13 October that it is in discussions with Permira regarding the purchase of Octus for a consideration of about $3.5bn, responding to press speculation earlier in the day.
Why London Stock Exchange Group is buying Octus
Octus, formerly Reorg, supplies news, analysis and data on credit markets, distressed debt and restructurings. LSEG said the deal would be accretive to the revenue growth of its Data & Analytics division and the group as a whole.
Deal terms and financing
LSEG gave a consideration of about $3.5bn. It said no final agreement had been reached and that there was no certainty a transaction would be agreed.
Regulatory approvals and timing
Any transaction would be subject to regulatory approvals.
Market context
Reuters first reported the talks, citing two people familiar with the matter; Permira had previously explored a sale of Octus. LSEG shares fell 5.8% to 8,256p on the afternoon of the announcement.
