HKEX in talks to buy the London Stock Exchange
- 2 months ago
The Hong Kong Exchanges and Clearing Limited (HKEX) has made a proposal to the board of the London Stock Exchange Group Plc (LSE) to merge the two companies.
The deal sets the value of the LSE at about $36.6 billion, the HKEX, however did point out that it was a matter of a potential offer rather than a done deal, stating that further announcement will be made “as and when appropriate.”
HKEX has proposed £20.45 a share in cash, as well as 2.495 newly issued HKEX shares.
LSE shares rallied shortly after 10:00 a.m. London time, rising by 8.5% before giving up some of the initial gains.
HKEX said it expected key LSE management to keep their jobs and work for the new owners.
Source: Smart Trend Team