What LSEG said
London Stock Exchange Group, which owns the London Stock Exchange and a large financial data business, responded to press reports on Tuesday, October 13, by confirming it is in discussions with Permira to acquire Octus for consideration of approximately $3.5 billion [1]. It said any deal would need regulatory approval and that no final agreement has been reached [1].
LSEG described Octus as a credit intelligence and data company that sells subscriptions to investors, investment banks, law firms and advisory firms, with a leading position in illiquid and private credit. It said Octus has grown revenue at a double-digit rate with high customer retention and would add to its fixed income data, analytics and private markets offerings [1].
Market reaction
LSEG shares fell 5.8% to 8,256 pence after the statement, according to AJ Bell [2]. The talks come as data providers compete to supply information on private credit, a fast-growing market where loans are made outside public bond markets and pricing information is harder to find.
What remains uncertain
LSEG confirmed only that talks are under way; terms could change and a deal may not happen. The price is LSEG's approximate figure. Octus's revenue and profit were not disclosed.