Thanks, but no thanks. The London Stock Exchange (LSE) has rejected a $36.6 billion unsolicited offer to be acquired by Hong Kong Exchanges and Clearing (HKEC) made earlier this week. The LSE told the Wall Street Journal that it had “fundamental concerns” about both the offered pricing and HKEC’s long-term viability as a financial gateway.
In a message that left little to the imagination, the LSE board sent a letter to HKEC stating that “the board unanimously rejects the conditional proposal and, given its fundamental flaws, sees no merit in further engagement,” the New York Times reported.
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