LSEG pushes up profit forecast as it confirms $3.5bn Octus swoop
LSEG has upped its profit forecast for a second time as the operator of the London Stock Exchange confirmed plans to take on credit data specialist Octus in a $3.5bn (£2.6bn) deal. The FTSE 100 firm said the deal to acquire the New York-based business “significantly expands LSEG’s fixed income offering”. “Public and private credit [...]
LSEG has boosted its profit forecast for the second time, following confirmation of a $3.5bn acquisition of credit data specialist Octus. The London Stock Exchange operator believes the deal will bolster its fixed income offerings and meet customer demand for timely, accurate and predictive intelligence in the credit market. This acquisition marks LSEG's biggest takeover since its $27bn purchase of Refinitiv in 2021.
LSEG's shares surged 2.5% to 9,008p, with pre-tax earnings guidance improving to a margin of 100-120 basis points from earlier forecasts of 80-100 basis points.
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