The big news in the M&A world this week was the London Stock Exchange ringing the bell on Refinitiv. In a deal that some described as a bet on a “British Bloomberg,” the London Stock Exchange confirmed Thursday that it plans to purchase data and analytics provider Refinitiv from a Blackstone Group-led consortium and Thomson Reuters for $27 billion, inclusive of debt. 

The all-share deal will give Refinitiv’s owners a 37% stake in the stock exchange, with annual revenue for the combined business pegged at about $7.3 billion. Blackstone and its co-investors, GIC of Singapore and the Canada Pension Plan Investment Board, will now be the largest shareholders in the LSE, along with Thomson Reuters.