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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Hong Kong Exchanges and Clearing Limited    0388   HK0388045442

HONG KONG EXCHANGES AND CLEARING LIMITED

(0388)
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End-of-day quote. End-of-day quote Stock Exchange of Hong Kong - 10/23
241.2 HKD   -0.41%
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Timeline: LSE - A story of failed mega-mergers

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09/13/2019 | 09:45am EDT

(Reuters) - The London Stock Exchange emphatically rejected a $39 billion takeover offer from the Hong Kong bourse on Friday, opting to stick with its planned purchase of data and analytics group Refinitiv.

Hong Kong Exchanges and Clearing's (HKEX) offer was the latest attempt at an exchange mega-merger after multiple failures between LSE and Deutsche Boerse over the last 17 years.

The LSE's share price, up 1,950% since it listed in 2001, reflects its frequent position as a bid target.

SEPTEMBER 2019

HKEX made an unsolicited $39 billion takeover bid for LSE on Sept. 11, an offer contingent on the London bourse ditching its planned acquisition of data company Refinitiv. LSE rejected proposal two days later.

MARCH 2017

An attempted merger between Deutsche Boerse and the London exchange was struck down by European regulators.

MARCH 2016

U.S. company ICE said https://www.reuters.com/article/us-lse-m-a-interconti-exc/nyse-owner-ice-may-gatecrash-deutsche-boerse-lse-merger-idUSKCN0W33SQ it might launch a rival bid to Deutsche Boerse's offer for LSE but shelved https://www.reuters.com/article/us-lse-m-a-ice/ice-shelves-plans-for-london-bourse-counter-bid-idUSKCN0XV1D7 those plans in May.

FEBRUARY 2016

Nearly 16 years after their first attempt to merge, LSE and Deutsche Boerse confirmed https://uk.reuters.com/article/uk-lse-m-a-deutsche-boerse/lse-and-deutsche-boerse-in-merger-talks-to-create-european-heavyweight-idUKKCN0VW1E2 they were holding detailed discussions on an all-share merger.

MAY 2014

LSE announced https://www.reuters.com/article/uk-lse-acquisition/lse-in-talks-to-buy-russell-to-expand-in-u-s-stock-indices-idUKKBN0DT12P20140513 talks to buy Russell Investments in a deal to expand its stock index business in the United States.

MARCH 2013

LSE acquired https://www.reuters.com/article/us-londonstockexchange/lse-and-lch-agree-revised-426-million-offer-idUSBRE9260E520130307 a majority stake in LCH Clearnet and has built its holding since. Clearing houses offered investment opportunities as regulators cracked down on markets.

FEBRUARY 2011

LSE agreed a merger with TMX Group, which operates the Toronto Stock Exchange. LSE's plans collapsed https://www.reuters.com/article/us-tmx-halt/lse-tmx-abort-their-merger-leaving-both-in-play-idUSTRE75S5KL20110629 in June 2011 in the face of a competing bid.

DECEMBER 2009

LSE bought https://www.reuters.com/article/us-lse-turquoise/lse-adds-turquoise-color-to-trading-idUSTRE5BK0QN20091221 a majority stake in platform rival Turquoise, granting it immediate access to pan-European share trading.

JUNE 2007

LSE agrees https://www.reuters.com/article/us-borsa-lse/lse-seals-2-2-billion-borsa-italiana-deal-idUSL2368118820070623 to buy its Italian counterpart for 1.6 billion euros ($1.77 billion), aiming to become "the world's capital market".

MARCH 2006

LSE rejects a $4.2 billion offer from Nasdaq. Bid turns hostile and Nasdaq's approach falls through in February 2007.

DECEMBER 2005

Macquarie makes a formal cash offer for LSE valuing it at 1.5 billion pounds.

DECEMBER 2004

Deutsche Boerse offers 520 pence a share for LSE, valuing it at 1.3 billion pounds ($1.62 billion). Proposed offer is withdrawn in March 2005.

SEPTEMBER 2000

LSE abandons a planned merger with its German counterpart which was announced in May.

AUGUST 2000

The Stockholm Stock Exchange launches a hostile bid for the LSE.

(Graphic: LSE spend on acquisitions in the decade, https://fingfx.thomsonreuters.com/gfx/editorcharts/REFINITIV-M-A-LSE/0H001QEM47LC/eikon.png)

(Graphic: LSE in talks to buy Refinitiv for $27 bln png, https://fingfx.thomsonreuters.com/gfx/editorcharts/REFINITIV-M-A-LSE/0H001QEM27L5/eikon.png)

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Elaine Hardcastle and Pravin Char)

Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE BÖRSE AG -0.96% 139.6 Delayed Quote.34.30%
HONG KONG EXCHANGES AND CLEARING LIMITED -0.16% 242.2 End-of-day quote.5.95%
LONDON STOCK EXCHANGE PLC -2.78% 6936 Delayed Quote.75.63%
NASDAQ 3.53% 101.31 Delayed Quote.19.97%
THOMSON REUTERS CORPORATION -0.34% 86.85 Delayed Quote.32.19%
TMX GROUP LIMITED -0.31% 114.3 Delayed Quote.62.11%
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Financials (HKD)
Sales 2019 16 287 M
EBIT 2019 11 275 M
Net income 2019 9 518 M
Finance 2019 122 B
Yield 2019 2,80%
P/E ratio 2019 31,8x
P/E ratio 2020 28,1x
EV / Sales2019 11,1x
EV / Sales2020 10,9x
Capitalization 303 B
Chart HONG KONG EXCHANGES AND CLEARING LIMITED
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Technical analysis trends HONG KONG EXCHANGES AND CL
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 267,88  HKD
Last Close Price 241,20  HKD
Spread / Highest target 31,0%
Spread / Average Target 11,1%
Spread / Lowest Target -12,9%
EPS Revisions
Managers
NameTitle
Xiaojia Li CEO & Executive Director
Romnesh Lamba Co-President
Chi Kin Tai Co-President & Chief Operating Officer
May Lung Cha Non-Executive Chairman
John F. Killian Chief Financial Officer
Sector and Competitors
1st jan.Capitalization (M$)
HONG KONG EXCHANGES AND CLEARING LIMITED5.95%38 854
INTERCONTINENTAL EXCHANGE, INC.21.96%51 485
LONDON STOCK EXCHANGE PLC75.63%32 264
DEUTSCHE BÖRSE AG34.30%28 784
B3 SA BRASIL BOLSA BALCAO0.00%23 894
NASDAQ19.97%16 116