Breakingviews: LSE confounds sceptics with Russell bid
Thursday, June 26, 2014 - 02:32
June 26 - The London Stock Exchange’s sceptics might be surprised to find out about its plans to buy investment group Frank Russell, says Reuters Breakingviews.
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The market seems to like the London stock exchange's purchase of frank Russell breaking news likes this as well by the sounds of this romp -- lake. I joins me now and yet you think this makes cents -- off one little thing. Yes. Does. Carry much of complementary business says the US business that puts he would like time talented son a great find for the moment. The price is about what people were expecting so it's not outrageous. And there's no really fill up. The one outstanding business as you point out is the admonishment on your front console which just doesn't fit I'm the one that doesn't take as it. Because -- because it conflicts with Saudi -- existing. It -- have gone so it just doesn't fit into the business model is not something -- -- -- and what they called comprehensive repeat to -- to do with the business but Scott's -- Lisa and I would say all right so it's the stock indexes of the key attraction here I -- The price what does it two point seven billion dollars from its pretty. Steep price. When you consider that -- -- -- market cap is what. The doing it through makes all time equity into it. Financing it it's one point six billion through equity. Shareholders definitely don't mind the stock -- son done very well today on has been rising in the since the announcement. Talks who made. I think it's that they gaining a foothold or you know increasing that access to a range of US clients they couldn't get. Basically the Russell indexes of Barry -- browned on the guest list -- to scoop the cross selling collectibles. I'm in the -- you'll you'll you'll colleague Robert Colin maybe wrote a piece of foul. Exactly relays. -- specification. FactSet. Might as well -- middle -- let's take a trip to the market likes what he's standing army -- he's been there for awhile now the general consensus they used to get over the innocent. Yep seems to be on this one is probably putting me and a cherry and a half I think only Capel and and does not much in that we need to do for cost saving some stuff that looks difficult so I think that probably -- as well I you can you think they will. Find a way to deal with a strong management issue. Yes I think so I mean it's not it's not the less problems on -- -- And thanks restaurant tonight actual US central opens them and bsc.
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