LSE completes Russell acquisition

Michael Bow
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LONDON Stock Exchange share­holders yesterday backed its biggest ever acquisition after voting through the £1.6bn acquisition of Russell Investments.

The exchanger operator, which launched a £942m rights issue to buy the group, said 99.96 per cent of shareholders approved the deal at a general meeting yesterday.

Chief executive Xavier Rolet has bought the group to boost its profile in the US, amid increasing consolidation in the exchange operator sector.

Meanwhile, LSE yesterday said it was also seeing an “encouraging” pipeline of potential new listings on its FTSE exchange in London.

“Aggregate revenues from trading in secondary markets in August increased on the same period last year,” the firm said in a statement.

The firm unveiled results on 22 August, but was forced to release another update due to the vote.

Shares in the firm fell 1.6 per cent in trading yesterday.