Memphis Daily News Chandler Reports Nashville Ledger
» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X
Skip Navigation LinksHome > Article
VOL. 43 | NO. 37 | Friday, September 13, 2019

London Stock Exchange rejects Hong Kong takeover bid

Print | Front Page | Email this story

LONDON (AP) — The London Stock Exchange is rejecting an unsolicited takeover bid from its Hong Kong counterpart, citing "fundamental concerns" about the offer.

The London Stock Exchange said Friday that it sees "no merit" in going forward with the offer because of the concerns.

Hong Kong Exchanges and Clearing had made an unexpected offer on Wednesday to buy the London exchange.

The deal would have valued the London Stock Exchange Group at 29.6 billion pounds ($36.6 billion).

But it was conditional on the London exchange scrapping its plan to buy financial data provider Refinitiv.

The London Stock Exchange said it was turning down the offer because it lacked "strategic merit" and because it "falls substantially short of an appropriate valuation."

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email  
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0