The London Stock Exchange Group (LSE) is reported to be holding exclusive talks with asset management group Russell Investments to acquire the firm in a deal worth $3bn.
LSE is the leading firm among the list of potential buyers including for the purchase of group owned by Northwestern Mutual, reported Reuters citing The Financial Times.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The other potential buyers include the Canadian Imperial Bank of Commerce (CIBC), and two private equity consortia comprising CVC Capital Partners and Silver Lake; and Warburg Pincus and TPG Capital, respectively.
A person familiar with the development, however, told the FT that a deal is still weeks away.
Earlier in May 2014, LSE confirmed that it is keen to take up the asset manager, to expand its indices portfolio leveraging Russell’s indexing business.
The exchange already owns FTSE International financial indices, after it bought the 50% stake, it did not own from Pearson in 2011 for £450m.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataNorthwestern Mutual had commenced the sale process in January 2014 and appointed Goldman Sachs as the adviser.
