(Adds analyst conference)
By Huw Jones
LONDON, April 21 (Reuters) - The London Stock Exchange said
on Tuesday it was committed to completing its $27 billion
takeover of data company Refinitiv in the second half of the
year, with no plans to revise its savings targets for the deal
as a deep recession beckons.
"We still have a lot of confidence in the transaction, in
the strategic rationale of the transaction," LSE Chief Executive
David Schwimmer told analysts.
The coronavirus pandemic is sending economies rapidly into
deep recession, forcing many companies to furlough millions of
staff and raise funds to stay afloat.
Analysts asked Schwimmer whether the deteriorating economy
was changing his view of the Refinitiv deal and he said it was
"a little bit early to be speculating" on synergies from the
deal.
The recurring nature of Refinitiv's income was an
"attractive element" that offers resiliency during such economic
conditions, Schwimmer said.
"I don't think that at this point we have any plans to
change anything in terms of our target synergies," Schwimmer
said.
"We think the combined business would be able to continue to
perform well through an environment like this and would be able
to handle the leverage."
Refinitiv is 45%-owned by Thomson Reuters, which owns
Reuters News.
($1 = 0.8058 pounds)
(Reporting by Huw Jones; editing by Dhara Ranasinghe)