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LSE investors call on Hong Kong Exchanges and Clearing to increase bid by 20 per cent, add cash
Some London Stock Exchange investors have told Hong Kong Exchanges and Clearing (HKEX) that any bid must contain more cash and be up to 20 per cent higher to persuade them to engage, three shareholders and a banking source close to the deal said. The three investors, who own a combined 3 per cent of LSE, said HKEX has been lobbying them to back a potential US$39 billion cash and share offer for the London exchange after it made a surprise approach last month. LSE quickly rejected HKEX’s initial approach, saying it faced regulatory hurdles and did not make strategic sense. The London exchange has already agreed a ... (full story)