Hong Kong firm makes £29.6bn bid to take over London Stock Exchange

Hong Kong firm makes £29.6billion bid to take over London Stock Exchange

Hong Kong Exchanges and Clearing said it has proposed a takeover offer for the London Stock Exchange Group in a deal worth around £29.6 billion.

Hong Kong Exchanges (HKEX) said it had approached LSE with an offer to merge the two companies to create a ‘global market infrastructure leader’.

Its cash-and-shares proposal would see it pay around £8.36 a share for LSE – which values it at around £29.6 billion or £31.6 billion including debt. 

A trading screen at the London Stock Exchange in June after it was opened by Philip Hammond

Signage is pictured outside the entrance to the London Stock Exchange in August last year

HKEX said: ‘The proposed combination would strengthen both businesses, better position them to innovate across markets and geographies, and offer market participants and investors unprecedented global market connectivity.’

More to follow 

 

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