Deals
LSE Rejects Hong Kong Exchange’s Surprise $36.6 Billion Bid
- Board sees no merit in further engagement with rival bourse
- HKEX plans to continue its pursuit of a deal: Financial News
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London Stock Exchange Group Plc has rejected a takeover proposal from Asian rival Hong Kong Exchanges & Clearing Ltd., saying the bid has “fundamental flaws.”
The board of the British bourse, which is working on its own deal to buy data provider Refinitiv, said HKEX’s approach on Wednesday had problems in its “strategy, deliverability, form of consideration and value.”