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

Christian Fernsby ▼ | September 13, 2019
The London Stock Exchange Group (LSE.L) has unanimously rejected a takeover bid from Hong Kong Exchanges and Clearing (HKEX).
London Stock Exchange
Acquisition   London Stock Exchange
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.”

Topics: London Stock Exchange Hong Kong

“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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