Hong Kong Exchanges makes surprise $39 billion offer for Britain's LSE

Hong Kong Exchanges and Clearing (0388.HK) has made an unsolicited $39 billion takeover approach for the London Stock Exchange (LSE.L), a proposal contingent on the LSE ditching its acquisition of data company Refinitiv.

The move comes at a time of political turmoil in both Hong Kong and London and is aimed at creating a global trading power better able to compete with U.S. rivals such as ICE (ICE.N) and CME.

FT - :lock:

The proposed 31.6 billion pounds cash-and-share transaction would only go ahead if the LSE’s takeover of Refinitiv does not proceed, HKEX said. Some analysts saw the Hong Kong offer as a defensive move to scupper the Refinitiv deal and prevent the London exchange becoming a bigger rival like CME and ICE.

Could get interesting. How long do they have to put it to shareholders?

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The LSE’s shareholder have now approve the takeover of Refinitiv -

which should reduce the chances of someone else acquiring the LSE…