Hong Kong Exchange's LSE bid conditional on rejection of Refinitiv deal

12 Septembre, 2019, 00:37 | Auteur: Auguste Feret
  • Hong Kong stock exchange

Hong Kong Exchanges and Clearing has launched a £29.6 billion proposed takeover bid for the London Stock Exchange Group.

The LSE and the Hong Kong stock exchange have been involved in a number of merger deals over the past few years.

The proposed transaction implied a value for each London Stock Exchange share of about 8,361p, based on the HK$245.20 closing price of Hong Kong Stock Exchange shares on Tuesday.

"The board of HKEX believes a proposed combination with LSEG represents a highly compelling strategic opportunity to create a global market infrastructure leader", the Hong Kong exchange said in a statement on Wednesday.

HKEX mentioned: 'The proposed mixture would strengthen each companies, higher place them to innovate throughout markets and geographies, and provide market individuals and traders unprecedented global market connectivity'. LSE shares jumped nearly 9% to 7,400 pence on Wednesday morning.

LSE's board said it would consider the proposal and will make a further announcement in due course.

The "ambitious and far-reaching" deal was considered for several months according to a statement by the stock exchange's CEO Charles Li.

The London Stock Exchange has historically fought off approaches from overseas, preferring instead to be the acquirer.

China exempts 16 types of USA goods from additional tariffs
President Donald Trump on Friday said the weight of the protracted trade war is damaging China more than the US. China's economy grew 6.2 percent on-year in the second quarter, the lowest rate in almost three decades.

Pope Francis presses for the poor in Madagascar
Hanitra Nirina Rasoananahary, 29, one of the quarry workers, told the pope, "our wages are meager, but we are happy to have work. The Catholic Pope Francis ' three-nation tour started in Mozambique and will end in the island of Mauritius .

Mélenchon parle de "procès politiques", Belloubet dénonce un "amalgame inacceptable"
" J'ai été assez stupéfaite ", a réagi sur France Inter Nicole Belloubet, ministre de la Justice, lundi 9 septembre, à propos de la tribune publiée dans le Journal du dimanche .

The LSE, which agreed to snap up data provider Refinitiv in a $27 billion blockbuster deal just weeks ago, declined to comment.

Mr Li said earlier this year in the company's latest strategic plan that HKEX aims to be "globally connected", while being "China anchored".

"If Hong Kong can not count on itself to maintain its status as an worldwide finance center, it is only natural to seek horizontal, inorganic growth through acquisition", he said by phone.

HKEX also noted that the acquisition would benefit both sides of the deal, with LSEG customers gaining better access to the Chinese market and the Hong Kong firm saying it wants to use the British exchange's trading and clearing technology.

LSEG stock surged 6.5% on the news.

In 2017, European Union regulators blocked a proposed £21bn merger between the LSE and Germany's Deutsche Boerse.

HKEX was created in 2000 after the merger of stock and derivatives exchanges in Hong Kong.

Conseillé:



Populaire

Longue absence confirmée pour Florian Thauvin — OM
André Villas-Boas, qui attend beaucoup de l'Orléanais, capable selon lui de "donner une nouvelle dimension à (son) équipe ", peut allumer un cierge.

Le dernier hommage à Anthoine Hubert - Fil Info - Auto/Moto
Une grande photo d'Anthoine Hubert , 22 ans, avec le drapeau français était accrochée aux grilles de la cathédrale de Chartres. Le Français, pilote en Formule 2, est décédé en piste le 31 août dernier, après un accident sur la piste de Spa-Francorchamps.

Jennifer Lopez Is Getting Serious Oscar Buzz For Her Role in Hustlers
Several critics shared their thoughts on the film on Twitter after its TIFF premiere with many hailing Lopez's performance . Lopez is joined by Lili Reinhart , left, Keke Palmer , second from right, and Constance Wu in Hustlers .

Dear India, that's my team and those are my boys: Sunil Chhetri
The home side had at least half a dozen on-target shots and seven corners in the first half while India did not have any. Qatar head coach Felix Sanchez, on the other hand, made two changes to the line-up that started against Afghanistan.

BMW Concept 4 (with massive grille) previews new 4 Series
The, erm, distinctive show auto previews the next-generation 4 Series coupe, including its "expressive face". It's sleek and sinuous, right up until you get to the front.

Priyanka Chopra reveals why she morphed VMA’s image with Nick Jonas
Zaira, who has bid a farewell to acting will be seen on-screen one last time and it surely makes you feel sad why. The trailer of the film was released by the makers today and fans can not hold their excitement about it.

Jack Ma quitte la direction de son entreprise Alibaba — Chine
Cette entreprise qu'il a fondée en 1999, a révolutionné le commerce en ligne en Chine et a profondément marqué l'économie du pays. A 55 ans, il nomme Daniel Zhang, numéro 2 du groupe, comme son successeur.

FDA calls out Juul for promoting vaping as safer than cigarettes
The FDA considers youth vaping rates to be at "epidemic" levels. "Switching is not another word for cessation", Kwong said. As of Friday, there have been 450 cases reported in mostly teens and young adults in 33 states and one territory.

Disney & Netflix Stocks Plummet After Apple+ Unveils $4.99 Price
Apple is entering the video streaming race, taking on Netflix , Amazon, Disney and others with a monthly subscription of $4.99. Apple's new service costs considerably less than Netflix , which has a standard subscription of $8.99 per month.

" La dure réalité approche " pour Neymar — PSG
Toujours est-il que les champions d'Espagne n'ont jamais réussi à proposer une offre digne de ce nom à Paris. L'occasion pour lui d'évoquer pour la première fois l'échec du retour de son fils au FC Barcelone .