) consortium, which turned the exchange into the second largest financial data company after Bloomberg LP.
Microsoft has a longstanding relationship with LSEG, and the exchange group’s Chief Executive David Schwimmer said that about a year ago they began talks on a more strategic relationship. “We will continue to maintain our multi-cloud strategy and working with other cloud providers,” Mr. Schwimmer said.
“This feels like a key milestone in LSEG’s journey towards being information solutions-centric, even if ‘meaningful’ revenue growth specifics are lacking,” analysts at Jefferies said. The purchase price represents a 60-per-cent premium to Weber’s closing price on Oct. 24, the last trading day before BDT submitted its takeover offer.