Information services provider Thomson Reuters (NYSE:TRI) is set to rake in nearly $1.52 billion from its sale of millions of London Stock Exchange shares.
The company, along with certain affiliates of Blackstone offloaded about 33 million London Stock Exchange Group shares at £80.50 apiece. The transaction was conducted by way of an institutional placement as well as an offer to retail participants.
Thomson Reuters owned about 15.3 million of these shares and post this move still has about 32 million shares of London Stock Exchange.
Overall, the Street has a $134.61 consensus price target on Thomson Reuters alongside a Moderate Buy consensus rating. Shares of the company have surged nearly 32.5% over the past year already.
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