LSE in Exclusive Talks to Buy Russell

May 21, 2014

On May 20, 2014, Financial Times reported that the London Stock Exchange Group is in exclusive negotiations with Northwestern Mutual regarding a potential acquisition of Russell Investments.


On May 20, 2014, Financial Times reported that the London Stock Exchange Group has entered exclusive talks to acquire Russell Investments from Northwestern Mutual in a deal that is expected to be valued at approximately $3 billion.  Russell, which is being spun out by Northwestern in an auction, is a U.S.-based index compiler, mutual fund manager and asset manager with approximately $260 billion in assets under management.  The auction has also attracted bids from MSCI and Canadian Imperial Bank of Commerce.  The transaction would enable the LSE to expand its footprint into the US and to unite the index business with FTSE International.  If consummated, the $3 billion deal would be the largest in the LSE’s history. 

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Categories

Investment Manager M&A, Mutual Fund M&A, Transactions