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HKEX (00388) proposes merger with London Stock Exchange
11 Sep 2019
(Infocast News) Hong Kong Exchanges and Clearing Limited (00388) announced that it has made a proposal to the board of London Stock Exchange Group plc (LSEG) to combine the two companies.

Under the terms of the proposed transaction submitted to the board of LSEG, LSEG shareholders would receive per LSEG share: 2,045 pence in cash and 2.495 newly issued HKEX shares.

HKEX said that the proposed transaction implies a value for each LSEG share of 8,361 pence. This would imply a value for the entire issued and to be issued ordinary share capital of LSEG of £29.6 billion, implying an enterprise value of £31.6 billion. This represents a premium of 22.9% to the closing share price of 6,804 pence per LSEG share on 10 September 2019. (WL)
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