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BRIEF-London Stock Exchange Group says it is in talks to buy Refinitiv

July 26 (Reuters) - London Stock Exchange Group Plc:

* LSE SAYS IS IN TALKS WITH CONSORTIUM INCLUDING SOME INVESTMENT FUNDS AFFILIATED WITH BLACKSTONE & THOMSON REUTERS ABOUT POSSIBLE ACQUISITION OF REFINITIV

* THERE CAN BE NO CERTAINTY THAT DISCUSSIONS BETWEEN PARTIES WILL PROGRESS OR THAT A TRANSACTION WILL BE FORTHCOMING

* EXPECTED THAT LSEG WOULD ACQUIRE REFINITIV FOR A TOTAL ENTERPRISE VALUE OF ABOUT US$27 BILLION

* PARTIES ANTICIPATE DEAL TO RESULT IN REFINITIV SHAREHOLDERS HOLDING ABOUT 37% STAKE IN ENLARGED GROUP & LESS THAN 30% OF TOTAL VOTING RIGHTS OF LSEG

* PARTIES ARE IN ADVANCED TALKS REGARDING BOARD MEMBERSHIP, GOVERNANCE AND OTHER RELATIONSHIP AGREEMENT TERMS INCLUDING LOCK-UP PROVISIONS

* SHOULD TRANSACTION PROCEED, REFINITIV SHAREHOLDERS INTEND TO BE SUPPORTIVE LONG-TERM SHAREHOLDERS IN LSEG

* UNDER DEAL TERMS, LSEG WOULD CONTINUE TO BE CHAIRED BY DON ROBERT AND LED BY DAVID SCHWIMMER, CEO, WITH DAVID WARREN AS CFO

* BELIEVES THAT ANNUAL RUN-RATE COST SYNERGIES IN EXCESS OF 350 MILLION STG WOULD BE DELIVERABLE IN FIVE YEARS AFTER DEAL COMPLETION

* TRANSACTION WOULD DELIVER STRONG ADJUSTED EARNINGS PER SHARE ACCRETION IN THE FIRST FULL YEAR AFTER COMPLETION

* BLACKSTONE'S CONSORTIUM INCLUDES AN AFFILIATE OF CANADA PENSION PLAN INVESTMENT BOARD, AN AFFILIATE OF GIC SPECIAL INVESTMENTS, SOME CO-INVESTORS Source: http://bit.ly/32V5q4Y Further company coverage: