Investing.com - Hong Kong Exchange and Clearing Ltd (HK:0388) has made a surprise bid to purchase London Stock Exchange Group PLC (LON:LSE), according to a report by Bloomberg.
The bid values LSE Group, one of Europe’s largest exchanges at $36.6 billion (29.6 billion pounds).
“Bringing HKEX and LSEG together will redefine global capital markets for decades to come,” HKEX Chief Executive Charles Li said in a statement Wednesday. “Both businesses have great brands, financial strength and proven growth track records.”
The Hong Kong Exchange already owns the London Metal Exchange.
In August, LSE Group acquired Refinitiv, a financial information provider, for $27 billion.
According to a report by Reuters, HKEX's proposed takeover would only go ahead in the event that LSEG does not proceed with its takeover of Refinitiv.