Alistair Osborne's analysis of Hong Kong's failed attempt to buy the London Stock Exchange in The Times is probably the best of lot from today's coverage in the national newspapers. Betaville particuarly enjoyed the pay off from Alistair, a former colleague and wind up merchant.
"Mr Li’s stock exchange adventure was almost as surreal as his book."..
The Hong Kong exchange did manage to drum up some other advisers alongside Moelis to join its bid for London Stock Exchange (HSBC and UBS) but in the end it was too late. Yes, this morning the Asian exchange said it is pulling out - quelle surprise. Below is the link to the company's statement:..
This piece - https://www.telegraph.co.uk/business/2019/09/21/hong-kong-enlists-help-banking-heavyweights-win-london-stock/ - in the Sunday Telegraph's business section about Hong Kong Exchange and Clearing hiring HSBC to bolster to its bid for the London Stock Exchange caught Betaville's eye...
The London Stock Exchange finally swatted away Hong Kong's £32 billion takeover proposal. Below is the link:
It struck me as odd whilst re-reading this morning's press release from Hong Kong Exchange that Moelis & Company, a mid-sized American M&A advisory firm, is the sole advisor to the Asian bourse on its takeover bid for the London Stock Exchange...
Well, that didn't take long. Just a few days back from the summer holidays and Hong Kong Exchange launches a £32 billion pound takeover deal for the London Stock Exchange, which is itself trying to merge with Refinitiv.
Below is the link:
As a competitive deals hack it is rather galling to be scooped but once again I take my hat off the FT team that broke the $27 billion LSE/Refinitiv mega merger deal last Friday evening. It's possible that will be the M&A story of the year...
Betaville notes that Sir Christopher Hohn's The Children's Investment Fund has just slotted the majority of its 5pc stake in the London Stock Exchange.
So, unless the abrasive hedge fund manager isn't interested in making money for his investors, Sir Chris can't really still believe the LSE is still a takeover target?..
This morning's business comment column by the excellent Katherine Griffiths, a former colleague from our days at The Daily Telegraph, caught Betaville's eye.
That's because top bankers suggested to Betaville last week that the London Stock Exchange - whose chairman has been having a bruising row with TCI's Sir Christopher Hohn, the exchange's biggest shareholder - may soon announce the appointment of a new chief executive, possibly as soon as this week...
I see uber bankers at Robey Warshaw are taking a bit of stick in the financial media this morning following the collapse of London Stock Exchange's £24 billion merger with German rival Deutsche Borse...