LSE’s long history of failed mega deals
The Hong Kong exchange’s takeover tilt for the LSE marks the latest in a long line of bids for the London bourse over the years.
It also threatens the LSE’s agreed $27 billion (£21.9 billion) takeover of data provider Refinitiv, potentially marking yet another doomed LSE deal.
Here is a potted history of failed LSE mega mergers:
– March 2017
A £21 billion merger with German rival Deutsche Borse collapsed after it was blocked by the European Commission.
It came after a year of talks and was the third attempt at a tie-up between the two companies after setbacks in 2000 and 2005.
– February 2011
The LSE agreed a merger with Canadian rival TMX Group, which operates the Toronto Stock Exchange.
But the deal was ditched in June 2011 after the LSE was trumped by a competing bid for TMX by rival Canadian consortium Maple.
– March 2006
The LSE rejects a $4.2 billion (£3.4 billion) bid from US exchange Nasdaq, which prompts a hostile battle.
Nasdaq’s deal was then scrapped in February 2007.
– 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.
– 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.
– 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.
– May 2000
The LSE first unveils a planned merger with Deutsche Borse, but pulls the deal just four months later.