The Hong Kong Exchanges and Clearing Limited had proposed a 31.6 billion pound ($39 billion) takeover of the London Stock Exchange.
Updated:September 13, 2019, 6:02 PM IST
FILE PHOTO: The name of Hong Kong Exchanges and Clearing Limited is displayed at the entrance in Hong Kong, China January 24, 2018. REUTERS/Bobby Yip/File Photo
London: London Stock Exchange Group on Friday formally rejected a takeover bid by the Hong Kong Stock Exchange, citing “fundamental concerns” over the bid worth 32 billion pounds (USD 40 billion, 36 billion euros).
In a statement, LSEG said management “unanimously rejects the conditional proposal and, given its fundamental flaws, sees no merit in further engagement” regarding the offer made Wednesday.
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