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Oct. 7, 2019, 9:08 p.m. EDT

Hong Kong Exchanges drops $37 billion bid to buy London Stock Exchange

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By Mike Murphy


Hong Kong Exchanges & Clearing Ltd. /zigman2/quotes/200234512/delayed HK:388 -0.80% announced early Tuesday, local time, that it will drop its $37 billion bid to buy the London Stock Exchange Group PLC . "The Board of HKEX continues to believe that a combination of LSEG and HKEX is strategically compelling," HKEX said in a statement, but the boards of the two companies were "unable to engage." As a result, the board decided "it is not in the best interests of HKEX shareholders to pursue this proposal." The unsolicited bid was announced in September, and was immediately rejected by LSE, though HKEX had vowed to press ahead.

HK : Hong Kong
$ 496.00
-4.00 -0.80%
Volume: 5.18M
July 30, 2021 4:08p
P/E Ratio
Dividend Yield
Market Cap
$598.24 billion
Rev. per Employee

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