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London Stock Exchange rejects Hong Kong takeover offer – Fox Business, Foxbusiness.com

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Dick Grasso on Hong Kong’s $ 36 .6 billion bid for London Stock Exchange

Former NYSE CEO Dick Grasso on the Hong Kong Stock Exchange making an offer for the London Stock Exchange.

The London Stock Exchange said Friday it has rejected a near $ 37 billion takeover offer from Hong Kong Exchange.

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“The board unanimously rejects the conditional proposal and, given its fundamental flaws, sees no merit in further engagement,” the LSE said in a statement, according to Reuters.

Earlier this week, the Hong Kong Stock Exchange said it started talks to buy th e LSE. That offer comes weeks after the London exchange announced a plan to merge with data company Refinitiv in a $ 27 billion deal.

This is a developing story. Please check back for updates.