Elliott supports LSEG buyback but sees more value potential
Feb 27 (Reuters) - Elliott Management on Friday called London Stock Exchange Group's LSEG.L share buyback, margin-improvement plans and improved communication on its AI strategy a "positive first start" but also urged further "value-enhancing" actions.
The activist investor said it held a "significant stake" in LSEG, without disclosing the size of the stake.
On Thursday, LSEG said it would buy back 3 billion pounds ($4.04 billion) worth of shares and provided forecasts that pleased investors. This sent shares 9% higher, their biggest one-day gain since March 2022.
New York-based Elliott is pressing CEO David Schwimmer to review LSEG's portfolio, lift margins that trail rivals, and better communicate its resilience to AI threats, a person familiar with the matter had told Reuters previously.
Reuters provides news for LSEG's news and data terminal, Workspace, and other products.
($1 = 0.7426 pounds)
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