Hong Kong Stock Exchange dropped its $36 billion bid for its London rival after the LSE snubbed it

The Hong Kong Stock Exchange has dropped its $36 billion bid for the London Stock Exchange after it was rejected by the group’s board last month. In a statement on its website, HKEX said it “confirms that it does not intend to make an offer for LSEG,” adding that the board felt it would be “strategically compelling and would create a world-leading market infrastructure group.”The original unsolicited bid took markets by surprise, given the LSEG had already secured a $27 billion deal with Refinitiv. LSE shares sunk on the news. View Markets Insider’s homepage for more stories. The Hong Kong Stock Exchange says it’s dropping its bid for the London Stock Exchange, on Tuesday morning via the group’s website. HKEX originally made an unsolicited bid for the LSE on September 11, worth £32 billion

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