London Stock Exchange owner LSEG confirms $3.5bn deal for US credit data firm Octus in its biggest takeover since Refinitiv

Private equity group Permira stands to cash in, having bought New York-based Octus for just $1.3bn in 2022. LSEG boss David Schwimmer said the acquisition would put the group at the forefront of fixed income data and trading worldwide. The all-cash deal should complete by mid-2027 and is forecast to add over $300m in revenue. LSEG also lifted its profit margin guidance for a second time, to 100-120 basis points.

Third-quarter gross profit rose 9.5 per cent to £2.2bn on booming derivatives fees.

Elliott, an activist investor, has been applying pressure on LSEG, whose shares are down 2% this year.