London Stock Exchange in surprise £31 billion takeover bid

The London Stock Exchange has been targeted with a £31.6 billion takeover bid.

The LSE’s rival Hong Kong Exchanges and Clearing has proposed a cash-and-shares deal.

It would value an LSE Group share at about £8.36 a share – valuing the business at £29.6 billion.

However, the total bid would extra an extra £2 billion taking into accounts debts.

The bidder said the merger of the two exchanges would create a “global market infrastructure leader”.

London Stock Exchange Group described the approach as “unsolicited, preliminary and highly conditional.”

 

 

 

 

 

 

 

 

 


About the Author

Philip Braund spent 16 years at the Daily Mirror as a reporter and news editor before moving to ITV. He was the series producer of the ground-breaking investigation programme The Cook Report, Managing Editor at ITV's Millbank Studios, and Head of News at ITV Central. He has won national and regional Royal Television Society awards for documentaries.



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