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Huge acquisition: London Stock Exchange rejects 32bn pounds Hong Kong takeover offer

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Christian Fernsby |
London Stock Exchange
Acquisition   London Stock Exchange

The London Stock Exchange Group (LSE.L) has unanimously rejected a takeover bid from Hong Kong Exchanges and Clearing (HKEX).

Topics: London Stock Exchange Hong Kong

LSE said in a statement on Friday lunchtime that the board had “considered the unsolicited, preliminary, and highly conditional proposal” and concluded it has “fundamental flaws.”

“The Board has fundamental concerns about the key aspects of the Conditional Proposal: strategy, deliverability, form of consideration, and value,” the company said in a statement.

LSE said it would not engage further with HKEX and would instead focus on its acquisition of data business Refinitiv.

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