Shares in the owner of the London Stock Exchange have surged after it received a £30bn merger proposal from its Hong Kong rival.
Hong Kong Exchanges and Clearing (HKEX) said it was yet to make a firm offer but its plans would create a “global market infrastructure leader”.
The terms of its cash and shares proposal would value the London Stock Exchange Group (LSEG) at £29.6bn – or £31.6bn including debt.
HKEX said: “The proposed combination would strengthen both businesses, better position them to innovate across markets and geographies, and offer market participants and investors unprecedented global market connectivity.”
LSEG was yet to comment.
Its shares were trading 16% up in the moments after the announcement was made.
Source : Sky News