Belfast Telegraph

Home News UK

LSE’s long history of failed mega-deals

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

The Hong Kong exchange’s abandoned takeover tilt for the London Stock Exchange marks the latest in a long line of doomed bids for the London bourse over the years (Philip Toscano/PA)
The Hong Kong exchange’s abandoned takeover tilt for the London Stock Exchange marks the latest in a long line of doomed bids for the London bourse over the years (Philip Toscano/PA)

By Holly Williams, PA Deputy City Editor

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

The London Stock Exchange (LSE) will no doubt be pleased to see off the threat, as the approach had threatened its agreed 27 billion US dollar (£21.9 billion) takeover of data provider Refinitiv.

Here is a potted history of failed LSE mega-mergers:

– May 2000

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

– 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.

– 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.

– 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.

bpanews_84fb575e-7985-488c-9ec4-bd7da83350c0_embedded25408216
The LSE previously rejected a bid from US exchange Nasdaq (Ian West/PA)

– March 2006

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

Nasdaq’s deal is scrapped in February 2007.

– February 2011

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

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

– March 2017

bpanews_84fb575e-7985-488c-9ec4-bd7da83350c0_embedded244759967
The London Stock Exchange (Nick Ansell/PA)

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

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

PA

Popular

From Belfast Telegraph