Elliott Management Assures No Break-Up for London Stock Exchange Group

Elliott Management, the activist hedge fund, has assured the British government that it has no intentions to push for a breakup of the London Stock Exchange Group (LSEG) or move its listing to New York. The assurance follows the hedge fund acquiring a significant stake in the financial data and analytics company, as reported by the Financial Times.

The revelation of Elliott's stake in LSEG led to a surge in the group's share prices, closing at 77.94 pounds, a 1.5% increase. Meanwhile, LSEG and Britain's finance ministry remain tight-lipped. Although the exact size of Elliott's stake remains undisclosed, UK law mandates shareholders to disclose any holding above 3%.

Elliott is advocating for a comprehensive review of LSEG's portfolio and is pushing for a 5 billion pound ($6.78 billion) share buyback. Reuters has confirmed Elliott's growing position in the company, initially reported on February 11. Notably, Reuters provides news and content services for LSEG's Workspace data terminal and other products.