HKEX tempts LSE with £32bn offer despite political chaos

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By Aidan Gregory, Jonathan Breen
12 Sep 2019

Hong Kong Exchanges and Clearing’s (HKEX) surprise £31.6bn takeover bid for the London Stock Exchange Group (LSEG) is being hailed by some ECM bankers as a complementary acquisition that will bring markets in the east and west closer together. But the political fires raging in London and Hong Kong have put the proposal’s success in serious doubt, write Jonathan Breen and Aidan Gregory.

“Bringing HKEX and LSEG together will redefine global capital markets for decades to come,” said Charles Li, HKEX’s chief executive, in the statement announcing the offer. “Together, we will connect east and west, be more diversified and we will be able to offer customers greater innovation, risk management ...

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