Hong Kong exchange makes surprise bid for LSE
5 years, 4 months ago

Hong Kong exchange makes surprise bid for LSE

Live Mint  

London: Hong Kong Exchanges and Clearing Ltd made an unexpected $36.6 billion bid for London Stock Exchange Group Plc, a bold move that could upend the UK bourse’s combination with Refinitiv. The offer faces several hurdles, as LSE’s board “remains committed to” the acquisition of data provider Refinitiv as it considers what it called an unsolicited, preliminary and highly conditional proposal. LSE’s shares pared earlier gains, reflecting scepticism that a deal can be done in the face of escalating tensions with China over Hong Kong and the view that the $27 billion takeover of Refinitiv would allow LSE to push into financial data, offering a more secure future than a combination of stock exchanges. HKEX’s proposed move could fall at the same hurdle, said Ronald Wan, CEO at Partners Capital International in Hong Kong.

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History of this topic

As China, at 70, hits back at the West, India needs to watch out
5 years, 3 months ago

As China, at 70, hits back at the West, India needs to watch out

Deccan Chronicle  

The People’s Republic of China will turn 70 on October 1, 2019. And finally, China’s $3.168059 trillion official reserves stands far ahead of second-placed Japan’s $1.270,402 trillion and third-ranked Europe’s $821.608 billion. China’s attempt to attain numero uno status constitutes a direct challenge to not only the West, but also the non-Western stock exchanges of Tokyo, Seoul and Mumbai. Thus, …

Hong Kong bourse said to rope in UBS as it courts LSE investors
5 years, 3 months ago

Hong Kong bourse said to rope in UBS as it courts LSE investors

Live Mint  

Hong 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 …

Hong Kong exchange vows to press on with $39-bn LSE bid after rebuff
5 years, 4 months ago

Hong Kong exchange vows to press on with $39-bn LSE bid after rebuff

Live Mint  

London: Hong Kong's exchange refused to give up on its bid to take over the London Stock Exchange after the British bourse emphatically rejected its $39-billion takeover offer on Friday. HKEX, Hong Kong Exchanges and Clearing, said it was disappointed the LSE has refused to "properly engage" in a compelling proposal. The source said a higher bid by the Hong …

LSE rejects Hong Kong’s $37 billion takeover bid
5 years, 4 months ago

LSE rejects Hong Kong’s $37 billion takeover bid

CNN  

London CNN Business — The London Stock Exchange has roundly rejected Hong Kong’s $37 billion takeover bid, saying it was too low, politically risky and lacked strategic merit. In a strongly worded statement Friday, LSE’s board said it “unanimously” rejects this week’s conditional proposal from Hong Kong Exchanges and Clearing. LSE added that it sees “no merit in further engagement” …

Hong Kong Exchange’s LSE bid runs into trouble
5 years, 4 months ago

Hong Kong Exchange’s LSE bid runs into trouble

Live Mint  

The plan by Hong Kong Exchanges and Clearing Ltd to take over London Stock Exchange Group Plc is running into multiple obstacles a day after the surprise bid was launched, with the UK bourse leaning toward rejecting the offer in its current form. “Scepticism abounds around the likelihood of the UK regulator approving this deal,” said Guy de Blonay, a …

Hong Kong’s audacious bid for the London Stock Exchange may be doomed
5 years, 4 months ago

Hong Kong’s audacious bid for the London Stock Exchange may be doomed

CNN  

London CNN Business — Hong Kong’s bid to acquire the London Stock Exchangecould be a game changer for global markets, but chances are it won’t succeed. Hong Kong Exchanges and Clearing announced an unsolicited £30 billion bid on Wednesday, saying that the deal would “create a truly global market infrastructure group connecting the East and West.” The takeover would create …

Hong Kong stock exchange swoops in for London rival
5 years, 4 months ago

Hong Kong stock exchange swoops in for London rival

Associated Press  

LONDON — The Hong Kong stock exchange wants to buy its London counterpart to create a $70 billion-company, a bold move that faces big hurdles and will likely raise concerns in Britain about the Chinese government’s potential influence over one of the symbols of global capitalism. One aspect of the proposed deal that could give leaders at the London exchange …

Hong Kong makes $37 billion bid for London Stock Exchange
5 years, 4 months ago

Hong Kong makes $37 billion bid for London Stock Exchange

CNN  

London CNN Business — Hong Kong has just made a surprise £30 billion takeover bid for the London Stock Exchange. Hong Kong Exchanges and Clearing said Wednesday it had made a proposal to the LSE to combine the two companies in a cash and share deal worth £29.6 billion, or £31.6 billion including debt. The transaction would give Hong Kong …

China's Alibaba Group files for Hong Kong listing, may raise $20 billion as soon as third quarter
5 years, 7 months ago

China's Alibaba Group files for Hong Kong listing, may raise $20 billion as soon as third quarter

Firstpost  

China’s biggest e-commerce company Alibaba Group Holding Ltd has filed confidentially for a Hong Kong listing that could raise up to $20 billion as early as the third quarter of this year, a person with direct knowledge of the matter said Hong Kong: China’s biggest e-commerce company Alibaba Group Holding Ltd has filed confidentially for a Hong Kong listing that …

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