Share Name Share Symbol Market Type Share ISIN Share Description
London Stock Exchange Group Plc LSE:LSE London Ordinary Share GB00B0SWJX34 ORD SHS 6 79/86P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -150.00p -2.00% 7,364.00p 7,360.00p 7,364.00p 7,434.00p 7,308.00p 7,434.00p 199,474 11:19:14
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 1,911.0 685.0 138.3 53.2 25,636

Hong Kong Exchanges Makes GBP29.6 Billion Bid Approach to London Stock Exchange

11/09/2019 10:21am

Dow Jones News


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   By Ian Walker 
 

Hong Kong Exchanges & Clearing Ltd. (0388.HK) said Wednesday that it has approached the London Stock Exchange Group PLC (LSE.LN) with a 29.6 billion pound ($36.54 billion) cash and share offer and plans to seek a recommendation from its board.

The HK Exchange said a merger of the two exchanges would be a "highly compelling strategic opportunity to create a global market infrastructure leader."

If the deal goes ahead, accepting London Stock Exchange Group shareholders would get 2,045 pence in cash and 2.495 new HK Exchange shares. The offer values each London Stock Exchange share at 8,361 pence based on the HK Exchange's closing share price of 245.20 Hong Kong dollars ($31.28) on Sept. 10.

If the deal goes ahead the HK Exchange will apply for a second listing on the London Stock Exchange. Any deal will be financed via existing cash resources and new credit facilities.

London Stock Exchange shares at 0845 GMT were up 810 pence, or 12%, at 7614 pence.

 

Write to Ian Walker at ian.walker@wsj.com

 

(END) Dow Jones Newswires

September 11, 2019 05:06 ET (09:06 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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