article

The Hong Kong Stock Exchange says it has started talks to buy the London Stock Exchange that would value the British company at $36.6 billion.

Continue Reading Below

The offer comes weeks after the London exchange announced a plan to merge with data company Refinitiv in a $27 billion deal.

MORE FROM FOXBUSINESS.COMCHARLES SCHWAB CUTS 600 JOBS AMID PRESSURE FROM FED INTEREST RATE CUTSAPPLE UNVEILS NEW IPHONESPELOTON PLANS TO RISE AS MUCH AS $1.3B IN AN IPO

The Hong Kong Exchanges and Clearing Ltd. said Wednesday that a deal would provide the London Stock Exchange with a key opening to Asian markets and underpin the British capital's role as a financial hub.

The offer comes at a time of heightened uncertainty for London and British companies because of Brexit, which threatens to create barriers to trade for the country. A weakened pound has also made U.K. companies cheaper takeover targets.

CLICK HERE TO READ MORE ON FOX BUSINESS

The Hong Kong exchange is required to make a binding offer by Oct. 9.

The Associated Press contributed to this story.

Source Link:
https://www.foxbusiness.com/markets/hong-kong-exchange-proposes-36b-takeover-of-london-stock-exchange

[-0.302205]

Comments

comments

Advertisement