London (CNN Business)The London Stock Exchange has agreed to buy financial data provider Refinitiv, creating a British rival to industry juggernaut Bloomberg.
Refinitiv shareholders will end up owning a 37% stake in the London Stock Exchange. The all-share deal values Refinitiv at $27 billion, including its debt.
The purchase comes less than a year after news and information provider Thomson Reuters (TRI) sold a majority stake in Refinitiv to a group of investors led by private equity group Blackstone.
