Refinitiv: A private equity-led transformation
Subject
Finance, Strategy and Entrepreneurship
Authors / Editors
Birkinshaw J;Craig D
Biographies
Publication Year
2022
Abstract
In August 2019 CEO David Craig was considering the likely benefits and challenges of merging his company, financial-markets data and infrastructure provider Refinitiv, with the London Stock Exchange Group. Craig had led a turnaround of Thomson Reuters’ Financial & Risk division (F&R), then used investment from a private equity consortium led by Blackstone to carve out F&R from Thomson Reuters and create Refinitiv as an independent company. The carve-out had been successful, but global financial markets were evolving fast. Initial industry reaction to the proposed deal was positive; however some analysts questioned whether it would be approved by regulators and expressed concern over the complexity of integrating the two companies. With the industry changing so quickly, could the momentum created in Refinitiv be maintained in the new combined entity?
Topic List
Entrepreneurship
Industry
Technology
LBS Case Number
CS-22-011
Location
United Kingdom
Publication Research Centre
Institute of Finance and Accounting
Available on ECCH
No
