HKEX: Dropped its £32bn bid for London Stock Exchange

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HKEX: Dropped its £32bn bid for London Stock Exchange

HKEX: Dropped its £32bn bid for London Stock Exchange

  • Hong Kong Exchanges and Clearing (HKEX) said it was now in the interest of shareholders to drop the bid
  • HKEX had until Wednesday to follow up its initial takeover proposal with a firm bid
  • Under UK rules, it is not allowed to make another approach for the LSE for six months
  • The LSE’s board rejected the bid unanimously last month and said it saw no merit in further engagement
  • LSE responded to the offer from HKEX by reaffirming its commitment to the Refinitiv deal
  • LSE is no stranger to mergers and acquisitions