LSE rejects takeover bid
THE operator of the Hong Kong Stock Exchange (HKEX) has refused to give up on its bid to take over the London Stock Exchange (LSE) despite an emphatic rejection of the £31.33bn (€35bn) offer on Friday.
HKEX vowed to take its pitch to LSE shareholders, saying in a statement it believes that "shareholders in LSE should have the opportunity to analyse in detail both transactions and [HKEX] will continue to engage with them".
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Early yesterday LSE rebuffed the Hong Kong approach in a letter, saying it had fundamental concerns about key aspects of its takeover proposal which it said had no strategic merit. It also warned that HKEX's relationship with the Hong Kong government would "complicate matters".