Feb 11 (Reuters) - Activist investor Elliott Management has built a stake in the London Stock Exchange Group and is engaging with the financial data and analytics group to improve its performance, a person familiar with the matter told Reuters.
Shares of LSEG slipped more than 1% after jumping nearly 8% earlier in the session on Wednesday at a time when uncertainties persist over newer AI-models disrupting traditional businesses.
The London Stock Exchange has a storied history dating back more than 300 years, but was incorporated into the London Stock Exchange Group in October 2007. Here is a timeline of key events from the founding of the current UK-based company to Elliot's latest investment:
Date Event
2007 LSEG as a corporate entity was founded in 2007, when the
London Stock Exchange merged with Borsa Italiana in a
deal valued at 1.6 billion euros.
2009 LSEG acquires Millennium IT, a Sri Lanka-based
technology solutions provider involved in the global
capital markets industry, for $30 million.
2009 LSEG buys 60% stake in pan-European equities trading
platform Turquoise, in partnership with leading global
investment banks.
2013 LSEG completes the purchase of a majority stake in
global multi-asset class clearing house LCH Clearnet.
2014 LSEG completes the deal for US-based financial services
provider Frank Russell Company for $2.7 billion, whose
assets include the Russell Indexes business.
2016 LSEG and Deutsche Börse AG agrees on the terms of a
recommended all-share merger deal worth 29 billion euros
in March to create UK TopCo.
2017 LSEG completes the acquisition of Mergent, a U.S.-based
provider of business and financial information on public
and private companies.
2017 LSEG completes the deal for fixed income analytics
platform and index business The Yield Book and Citi
Fixed Income Indices, from Citigroup for $685 million.
2017 TopCo merger attempt is blocked by EU Competition
Regulator.
2017 Activist hedge fund, The Children's Investment Fund
Management, fails to oust chairman Donald Brydon, after
accusing the board of forcing CEO Xavier Rolet out.
2018 Hedge fund TCI cuts stake in LSEG.
2018 LSEG increases majority shareholding in LCH Group.
2019 LSEG acquires a 4.92% stake in Euroclear in deal valued
278.5 million euros.
2019 LSEG acquires ESG fixed income data provider Beyond
Ratings (now LSEG Sovereign Sustainability Solutions).
2019 LSEG confirms plans to acquire data and analytics
company Refinitiv for $27 billion.
2020 LSEG agrees to sell Milan's Borsa Italiana stock
exchange to Euronext for 4.3 billion euros. The sale was
dependent on the Refinitiv transaction going through.
2021 LSEG agrees to acquire Quantile Technologies, a provider
of portfolio, margin and capital optimisation and
compression services, for up to $362 million.
2022 LSEG announces plans to acquire trading technology
provider TORA for $325 million.
2022 LSEG signs an agreement to acquire MayStreet, a market
data solutions provider.
2022 Microsoft agrees to purchase nearly 4% equity stake in
LSEG through the acquisition of shares from the
Blackstone/Thomson Reuters Consortium.
2022 LSEG acquires multi-asset post-trade services provider
Acadia for about $700 million, according to the data
analytics group.
2025 LSEG announces partnership with OpenAI that allows users
to access Financial Analytics content, real-time market
data, research and news from within ChatGPT.
2026 Activist investor Elliott builds a stake in LSEG and
engages with the company to drive performance.
(Reporting by Johann M Cherian in Bengaluru; Editing by Arun Koyyur)
