Hong Kong Exchanges Makes GBP29.6 Billion Bid Approach to London Stock Exchange
11 Setembro 2019 - 6:21AM
Dow Jones News
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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