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Intended merger: London Stock Exchange rejects offer from Hong Kong


The Hong Kong Stock Exchange wanted to create the world's largest stock exchange operator with its British counterpart. Now the board of LSE has expressed itself - and leaves no doubt about its position.

The London Stock Exchange LSE has rejected the takeover bid by Hong Kong Stock Exchange HKEX. The London Stock Exchange (LSE) rejects the offer and does not see any sense in further talks given the fundamental problems, she said.

The board had fundamental concerns regarding various key aspects of the offer and therefore rejected it unanimously, it said. In addition, because there are fundamental weaknesses, you see no benefits in another commitment, it said.

LSE should have waived refinance takeover

The HKEX had unexpectedly announced on Wednesday a takeover bid in the volume of 31.6 billion pounds (35 billion euros), including debt. The offer consisted of one share of cash and one share.

However, the merger offer from Hong Kong should come into effect only if the LSE renounces the € 24 billion purchase of the data provider Refinitiv. However, the takeover was decided in summer in great unity and celebrated by the shareholders.

Analysts and investors were therefore already skeptical before the official rejection of the LSE, as far as the chances of Asians.

Source: spiegel

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