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LNSTY

London Stock Exchange

$0.00

(0.00%)

, BX

Blackstone

$49.29

0.01 (0.02%)

15:56
07/28/19
07/28
15:56
07/28/19
15:56

Thomson Reuters confirms Refinitiv discussions related to possible $27B deal

Thomson Reuters (TRI) confirms that it and private equity funds affiliated with Blackstone (BX) are in discussions related to a possible acquisition of Refinitiv by the London Stock Exchange (LNSTY) for a total enterprise value of approximately $27B. New London Stock Exchange shares are contemplated to be issued as consideration in full for Refinitiv's equity value, after adjusting for Refinitiv's net debt and other adjustments. The parties anticipate that the transaction would result in Thomson Reuters holding an approximate 15% stake in the London Stock Exchange if completed. The Refinitiv business is currently 55% owned by private equity funds managed by Blackstone and 45% by Thomson Reuters. Reuters News 30-year agreement signed last year with Refinitiv will continue if ownership of Refinitiv changes.

LNSTY

London Stock Exchange

$0.00

(0.00%)

BX

Blackstone

$49.29

0.01 (0.02%)

TRI

Thomson Reuters

$70.43

2.925 (4.33%)

  • 01

    Aug

  • 03

    Aug

  • 26

    Sep

LNSTY London Stock Exchange
$0.00

(0.00%)

BX Blackstone
$49.29

0.01 (0.02%)

07/08/19
JMPS
07/08/19
DOWNGRADE
JMPS
Market Perform
Blackstone downgraded to Market Perform from Outperform at JMP Securities
JMP Securities analyst Devin Ryan downgraded Blackstone to Market Perform from Outperform, stating that his conversations with investors lead him to believe that many generalist money managers have been underweight Financials for some time and that this accelerated when the yield curve inverted earlier in the year. While he remains bullish on fundamentals, Ryan thinks the risk/reward in some of the more recent outperformers, such as Blackstone, is becoming more balanced, he said.
07/09/19
MSCO
07/09/19
NO CHANGE
MSCO
Morgan Stanley sees C-corp conversion announcement coming from Carlyle
Morgan Stanley analyst Michael Cyprys said he recommends owning Carlyle Group (CG) shares into the quarter, as he believes the company will announce plans to convert to a C-corporation along with its upcoming report, "albeit with a delayed effective date" to allow time for the complex underlying tax impact analysis. He thinks a conversion could bring greater clarity and visibility into targets, which could increase long only interest in the stock, Cyprys tells investors. In his broader preview of the earnings season for the Asset Manager group, the analyst noted that he lowered his Q2 EPS estimates by about 4% on average, cutting his estimates for Traditionals by 0.5%, for Alts by 11.5% and for Market Structure companies by 1.6%.
07/15/19
BOFA
07/15/19
INITIATION
Target $70
BOFA
Neutral
Thomson Reuters reinstated with a Neutral at BofA/Merrill
BofA Merrill Lynch analyst Gary Bisbee reinstated coverage of Thomson Reuters (TRI) with a Neutral rating and $70 price target, telling investors that the company's sale of a 55% stake in Refinitiv to Blackstone (BX) is a win-win and that the "new" Thomson is a "cleaner, faster growth story." However, he also sees this being largely priced in after a run-up in the stock over the last twelve months.
07/19/19
MSCO
07/19/19
NO CHANGE
Target $56
MSCO
Overweight
Blackstone price target raised to $56 after earnings at Morgan Stanley
Morgan Stanley analyst Michael Cyprys raised his price target on Blackstone shares to $56 from $54 following the company's "strong" Q2 results, telling investors that the firm's asset gathering "is coming in faster and larger than expected." The fundraising gives him confidence that Blackstone will hit its $2.00 per share run rate in management fee earnings by the end of 2020 and he sees room for the stock's multiple to expand further, said Cyprys,who keeps an Overweight rating on Blackstone shares.
TRI Thomson Reuters
$70.43

2.925 (4.33%)

06/25/19
MACQ
06/25/19
DOWNGRADE
MACQ
Neutral
Thomson Reuters downgraded to Neutral from Outperform at Macquarie
07/24/19
ADAM
07/24/19
DOWNGRADE
ADAM
Sell
Thomson Reuters downgraded to Sell from Hold at Canaccord
07/24/19
ADAM
07/24/19
DOWNGRADE
Target $58
ADAM
Sell
Canaccord downgrades Thomson Reuters to Sell following 'prolific' rally
As previously reported, Canaccord analyst Aravinda Galappatthige downgraded Thomson Reuters to Sell from Hold ahead of the company's earnings report on August 1, stating that he expects year-over-year revenue growth of about 10% and organic revenue growth of about 4% in Q2. While the core business is performing well, he believes there is some downside risk to the embedded valuation of over $10B for Refinitiv and notes that the stock is trading at an "unprecedented" valuation after its "prolific" 41% year-to-date advance. Galappatthige keeps a $58 price target on Thomson Reuters shares.

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NAV

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PCAR

Paccar

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MLM

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Proofpoint

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LVMUY

LVMH

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LVMH

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TRPX

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LOW

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NDAQ

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