London Stock Exchange rejects $32 billion Hong Kong takeover bid
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The London Stock Exchange Group (LSE.L) has unanimously rejected a takeover bid from Hong Kong Exchanges and Clearing (HKEX) (0388.HK). 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. HKEX surprised the market on Wednesday with a £32bn bid for LSE. It said a merger of the […]