Hong Kong bourse said to rope in UBS as it courts LSE investors
Live MintHong Kong Exchanges & Clearing Ltd. has started working with UBS Group AG as it begins its charm offensive to convince London Stock Exchange Group Plc investors on the merits of its takeover bid, people familiar with the matter said. Credit Suisse is also aiding HKEX set up meetings with LSE investors and will have a financial adviser role on the offer, a person familiar said. Top LSE shareholders will only support the deal if HKEX can convince them that LSE’s $27 billion takeover bid for data provider Refinitiv is “absolute rubbish,” that the HKEX offer will receive regulatory approval and that the bid will be improved, the paper cited unidentified sources as saying. LSE last week rejected HKEX’s takeover offer, citing problems in “strategy, deliverability, form of consideration and value.” HKEX said afterward LSE shareholders “should have the opportunity to analyze” the proposal in detail.
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