News Formal

Hong Kong’s LSE bid suffers market credibility gap

  • 📰 Breakingviews
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Shares in Hong Kong Exchanges and Clearing barely budged in response to a bold $37 bln cash-and-share offer for rival London Stock Exchange Group. That’s probably a sign that shareholders don’t think it is going to happen, says peter_tl:

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%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 470. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: BusinessInsider - 🏆 729. / 51 Read more »