Hong Kong Exchanges pitches $39 bln takeover of London Stock Exchange


Hong Kong Exchanges and Clearing Ltd said Sept. 11 that it has made a proposal to the London Stock Exchange’s board to combine the two companies in a 31.6 billion pound ($39 billion) deal. HKEK said it plans to fund the offer with a mix of existing cash and new credit facilities. The offer, however, is contingent on the LSE abandoning its $27 billion offer for Refinitiv, the statement said. HKEK cautioned that its statement should not be construed as an announcement of a firm intention to make an offer. “There can be no certainty that an offer will be made. A further announcement will be made as and when appropriate,” the HKEK said.