London Stock Exchange Group is in talks to buy US credit data firm Octus for £2.6bn from Permira

London Stock Exchange Group has confirmed it is in advanced discussions to acquire New York-based Octus, a financial data business focused on distressed credit markets, from private equity firm Permira for £2.6bn. The potential deal bucks the trend of US predators snapping up British firms, with LSEG itself doing the buying. No final agreement has been reached and any transaction would require regulatory approval.

Permira bought Octus in 2022 for just £1bn, meaning the sale would represent a near-tripling of its value in four years.

LSEG shares fell 4.7 per cent on the news, though RBC analyst Ben Bathurst called the reaction 'overdone' and said talks appear 'fairly advanced'.

Octus employs journalists, analysts and legal experts to scour court and regulatory filings, serving banks and investors exposed to companies in financial distress.