The London Stock Exchange’s board will meet in the coming days to make a decision on Hong Kong Exchanges and Clearing’s surprise takeover proposal, a source close to the British company told Reuters on Sept. 12.
The unsolicited offer is not expected to succeed given a preference among LSE investors for the exchange to complete its $27 billion proposed acquisition of data and analytics group Refinitiv, the source close to the LSE said. LSE shares were trading at 72.52 pounds, up 0.6%, by 1430 GMT on Sept. 12. HKEX shares closed at HK$237.4, down 3.5%.
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The Hong Kong Exchange's bid for the LSE highlights its desire to finally build the data business it's lacked to compete with its rivalsHKEX has proved to be extremely efficient, running on a high operating margin, but its data business is only a small portion of its revenue.
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