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LSE’s long history of failed mega deals

The Hong Kong Exchanges and Clearing proposed bid could threaten the LSE’s planned tie-up with data provider Refinitiv.

The latest bid threatens the LSE’s agreed $27 billion takeover of data provider Refinitiv (Philip Toscano/PA)
The latest bid threatens the LSE’s agreed $27 billion takeover of data provider Refinitiv (Philip Toscano/PA)

By Holly Williams, PA Deputy City Editor

The Hong Kong exchange’s takeover tilt for the LSE marks the latest in a long line of bids for the London bourse over the years.

It also threatens the LSE’s agreed $27 billion (£21.9 billion) takeover of data provider Refinitiv, potentially marking yet another doomed LSE deal.

Here is a potted history of failed LSE mega mergers:

– March 2017

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The London Stock Exchange (Nick Ansell/PA)

A £21 billion merger with German rival Deutsche Borse collapsed after it was blocked by the European Commission.

It came after a year of talks and was the third attempt at a tie-up between the two companies after setbacks in 2000 and 2005.

– February 2011

The LSE agreed a merger with Canadian rival TMX Group, which operates the Toronto Stock Exchange.

But the deal was ditched in June 2011 after the LSE was trumped by a competing bid for TMX by rival Canadian consortium Maple.

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The LSE previously rejected a bid from US exchange Nasdaq (Ian West/PA)

– March 2006

The LSE rejects a $4.2 billion (£3.4 billion) bid from US exchange Nasdaq, which prompts a hostile battle.

Nasdaq’s deal was then scrapped in February 2007.

– December 2005

Australian investment vehicle Macquarie launches a hostile approach for the LSE, but abandons its pursuit of the exchange in February 2006 after it admits defeat on the price.

– December 2004

The LSE’s long-term suitor Deutsche Borse tables a £1.3 billion bid for the LSE, but scraps the offer in March 2005.

– August 2000

Swedish stock exchange OM launches a £900 million hostile takeover bid for the LSE.

It falls through in November 2000 after winning the backing of just 6.7% of LSE investors.

– May 2000

The LSE first unveils a planned merger with Deutsche Borse, but pulls the deal just four months later.

PA

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