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Teneo is handling the London Stock Exchange Group as it negotiates a massive $27B (including debt) deal to acquire Refinitiv financial data provider from a consortium led by Blackstone Group.
Known for its Eikon desktop terminals, Refinitiv would put the LSEG in competition with Bloomberg, Intercontinental Exchange Group and CME Group.
The deal would transform the more than 300-year-old LSE from matching up buyers & sellers of stocks into a high-tech seller of financial information/analytics.
The LSEG released a statement July 27 “regarding press speculation” surrounding the deal to confirm takeover talks with Refinitiv.
It called Refinitiv “a leading global provider of financial data and infrastructure, delivering data, insight and analytics tailored to strategic workflows across its four core customer segments; investment and advisory, trading, wealth, and risk management.”
An acquisition would increase LSEG’s global footprint and deepen customer reach.
Teneo’s Philip Gawith (London) and Lucas van Praag (New York-based former global communications chief for Goldman Sachs) handle the LSEG.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
