London Stock Exchange rejects approach by Hong Kong counterpart

‘Fundamental flaws’ in £32bn takeover proposal mean LSE board sees no merit in it The board of the London Stock Exchange has “unanimously rejected” an approach by its Hong Kong rival after the Asian bourse made a surprise £32bn bid to take over the 321-year-old City institution earlier this week. In an uncompromising response to the approach , which the London Stock Exchange Group (LSEG) described as a “significant backward step”, the UK firm said it saw “no merit in further engagement” with Hong Kong Exchanges and Clearing (HKEX). Continue reading...