The London Stock Exchange PLC has confirmed that it is in talks over a $27 billion all-share takeover of financial data firm Refinitiv.
The LSE said that by revenue the merger would form the world’s largest listed global financial markets infrastructure provider.
Refinitiv is owned by Thomson Reuters and Blackstone’s private equity arm.
Blackstone would emerge as the largest shareholder in the enlarged group while Thomson Reuters would have 15%.
Refinitiv has more than 40,000 customers across a range of financial services and would also challenge Bloomberg in the provision of data, news and research.
The LSE predicts cost savings of over 350 million pounds boost to earnings in the first year after completion.