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HKEX Holds Out Prospect of Going Hostile in $37 Billion LSE Bid

LSE shareholders should have ‘opportunity’ to analyze merits
Hong Kong bourse set to lobby LSE investors in coming weeks

LSE Board Unanimously Rejects Hong Kong Exchange Bid

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By Jan-Henrik Foerster, Sonali Basak, and Suzy Waite

September 13, 2019 at 2:20 PM UTC

Updated on

September 13, 2019 at 4:55 PM UTC

This article is for subscribers only.

Charles Li isn’t taking “no” for an answer.

Rejected by London Stock Exchange Group Plc directors, the chief executive officer of Hong Kong’s bourse is ready to make his case for the 29.6 billion-pound ($37 billion) takeover directly to investors.

LSE shareholders “should have the opportunity to analyze” the proposal in detail, according to a statement Friday by Hong Kong Exchanges & Clearing Ltd. Beyond the political, regulatory and commercial hurdles, HKEX is also demanding LSE walk away from its own $27 billion deal for data provider Refinitiv.