Former NYSE CEO Dick Grasso on the Hong Kong Stock Exchange making an offer for the London Stock Exchange.
The Hong Kong stock exchange officially dropped it takeover bid for its London counterpart on Tuesday.
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Hong Kong Exchanges and Clearing Ltd. said it was “unable to engage” with managers of the London Stock Exchange Group.
The Hong Kong Exchanges made the surprise $36.6 billion offer in mid-September.
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The London exchange cited concerns including the Hong Kong exchange’s ties to the government of the Chinese territory. That gives the mainland’s ruling Communist Party influence over its operations.
The acquisition would have created a $70 billion company.
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The London Stock Exchange Group also owns the Milan exchange and the Russell Indexes in the United States.
The Associated Press contributed to this article.
