Hong Kong stock exchange makes $36.6 billion bid for London stock exchange

Hong Kong Exchanges and Clearing Limited (HKEX) said Wednesday it has made a proposal to the board of London Stock Exchange Group Plc (LSE) to “combine the two companies,” in a deal which values the LSE at about £29.6 billion ($36.6 billion).

The HKEX said the deal would be funded by a combination of existing cash and a new credit facility. It cautioned, however, that its statement to the market should be considered as an announcement to make a possible offer and is not confirmation of a firm intention to bid. LSE shares rallied shortly after 10:00 a.m. London time, rising by 8.5%.

Full article at CNBC

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Part-time despot and Dutch mini-pancake connoisseur. Has been known to play a musical instrument or two, much to the chagrin of people and pets around him.