HKEX Proposed LSEG Takeover Bid Contingent On LSEG Abandoning Purchase Of Refinitiv

Hong Kong Exchanges and Clearing Ltd earlier  today announced an audacious GBP 30 billion cash-and-stock offer for the London Stock Exchange Group.

HKEX said it wants to merge the two exchanges  to create a “global powerhouse” linking the West with the fast-growing economies of Asia.

Under the terms of the proposal, LSEG shareholders would receive 2,045 pence in cash as well as 2.495 new shares in HKEX for one LSEG share.

The offer represents a premium of f22.9% to Tuesday's closing LSEG price.

In addition to customary regulatory and shareholder approvals, the acquisition depends on the London Stock Exchange Group abandoning its USD-27-billion (EUR 24.5bn) purchase of Refinitiv.