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Global: Hong Kong makes US$37B bid for the London Stock Exchange

 |  September 11, 2019

Hong Kong has just made a surprise £30 billion (US$37 billion) takeover bid for the London Stock Exchange, reproved Reuters. 

Hong Kong Exchanges and Clearing announced Wednesday, September 11, it had made a proposal to the LSE to combine the two companies in a cash and share deal worth £29.6 billion, or £31.6 billion (US$39 billion) including debt.

If it happens, the takeover would create the world’s third biggest stock exchange group behind the New York Stock Exchange and Nasdaq in terms of the value of companies listed on those markets, according to the operators’ data. 

According to Reuters, it would also be the biggest foreign takeover of a UK-listed company since Japanese pharmaceuticals maker Takeda bought Shire in 2018.

Full Content: Reuters

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