The London Stock Exchange said Friday it has rejected a near $37 billion takeover offer from Hong Kong Exchange.
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“The board unanimously rejects the conditional proposal and, given its fundamental flaws, sees no merit in further engagement,” the LSE said in a statement, according to Reuters.
Earlier this week, the Hong Kong Stock Exchange said it started talks to buy the LSE. That offer comes weeks after the London exchange announced a plan to merge with data company Refinitiv in a $27 billion deal.
This is a developing story. Please check back for updates.
