Shareholders of London Stock Exchange Group Plc (LON: LSE) have met on Tuesday morning to vote on the potential takeover deal with Refinitiv.

Shares of the LSE jumped 1.4% on the news, and trade at 6,958p. 26/11/19 12:19BST.

The London Stock Exchange has flirted with deals of a potential takeover, as a £32 million bid was retracted by the owner of the Hong Kong Exchange (HKG: 0388) was retracted in October.

Refinitiv is a global provider of markets data and infrastructure and is jointly owned by Blackstone Group LP (NYSE: BX) and Thomson Reuters (NYSE: TRI) who own a 55% and 45% stake respectively.

Shareholders met to vote on the exchanges $27 billion takeover of Refinitiv, which will allow a wider market to trade with and give it a foot holding in the distribution of market data.

LSE Chairman Don Robert told the meeting in London that the exchange’s board was unanimous in recommending the Refinitiv deal because it was a “compelling opportunity” in the best interests of shareholders and the company.

“We feel very strongly this is in the long-term strategic interest of the London Stock Exchange. It will give us an opportunity to have a truly global business,” LSE Chief Executive David Schwimmer said.

The industry has seen many proposals at cross border mergers, for over ten years and profits from traditional stock market businesses have declines.

The decline in revenues led to both the LSE and New York Stock Exchange (NYSE: ICE) look to move into profitable sectors such as data analytics, where revenues continue to grow.

The outcome of the vote is expected to be announced later on Tuesday, and should give shareholders confidence as many members seemed to behind the deal.

The outcome of the deal will either way benefit shareholders of the LSE, this will deter bidders as seen in October by the Hong Kong billionaire and also provide shareholders some reassurance that ensured efforts are being made to diversify.

Certainly, after the impressive third quarter update shareholders seem to be sufficed with the performance of the LSE and should remain optimistic for future outlook.