LONDON, June 26 The London Stock Exchange Group
said on Thursday it planned to raise $1.6 billion
through a rights issue to help fund the acquisition of Frank
Russell for $2.7 billion.
The LSE said it had proposed to buy Frank Russell from its
Northwestern Mutual owners and other minority shareholders. It
had said in May it was in talks with the owners about a possible
acquisition for the investment services firm.
"The directors believe the acquisition is a rare opportunity
to acquire a high quality U.S. business with a leading global
brand providing index and investment management services," it
Under the plan, Len Brennan, the chief executive of Russell,
will join the executive committee of LSE upon completion.
(Reporting by Kate Holton, Editing by Paul Sandle)