London Stock Exchange rejects Hong Kong's $39 billion takeover offer

London Stock Exchange rejects Hong Kong Exchange’s $39 billion takeover offer, sticks with analytics group Refinitiv purchase

London Stock Exchange Group formally rejected a takeover bid by the Hong Kong Stock Exchange, citing"fundamental concerns" over the bid.

London Stock Exchange has rejected Hong Kong Exchange's $39 billion takeover offer, opting to stick with its planned purchase of data and analytics group Refinitiv. "Accordingly, the board unanimously rejects the conditional proposal and, given its fundamental flaws, sees no merit in further engagement," the London bourse said in a statement.

HKEX made its surprise offer on Wednesday, just two days after its officials travelled to London to present it to LSE Chief Executive David Schwimmer for the first time.

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