Seeing the playbook TR has followed for years it is more likely it sells something like LMS, Findlaw, Print, TRSS, Clear or any other easy carve out operation to a strategic (Big 4 / Lexis). The sale of a large BU (Healthcare, IP&S, F&R, etc.) would likely go through PE first to be sliced and diced before selling parts to a strategic. This happened to Healthcare, bought by PE and later sold to IBM Watson. TR is driven by finance and has a very cookie cutter approach to deals. What makes you think they will change this MO? Also, the sale of a large BU to PE would help speed along regulatory approvals which would be harder to clear as soon as Lexis or WK is involved. The TR Legal to Lexis rumor is clearly false.
Bumped this from another thread, @WhAn8Md-2cez . Think that there is a strong possibility that things could pan out this way