The London Stock Exchange Group on Thursday said it had agreed a revised takeover bid of LCH.Clearnet, wrapping up its long pursuit of the British clearing house. LSEG, which operates the London Stock Exchange and Italy's Borsa, said it would acquire up to a further 55.5 percent in LCH.Clearnet, adding to its current 2.3 percent interest. LSEG would meanwhile offer 15 euros ($19.55) a share, down from an original offer of 20 euros that had been agreed a year ago. The terms of the deal had been outlined by LSEG at the end of January and were determined after long negotiations between the pair that had been triggered by regulatory changes in Europe. "Together, we see significant revenue opportunities opening up as a result of both customer and regulatory demand for more efficient and more sophisticated tools to manage market risk," LCH.Clearnet chief executive Ian Axe said of the agreement. LSEG chairman Chris Gibson-Smith added: "This is a compelling transaction and we are delighted to be partnering with LCH.Clearnet as global leaders in market infrastructure. "Experience, stability and trust are cornerstones of our industry and together, we have secured the enlarged group's long-term role in the operation of international capital markets." The lower price reflects the higher costs that LSEG would likely face as a result of new regulations increasing the financial buffer that clearing houses must set aside to cover risks of default. Clearing houses play a key role in the transaction of shares between two parties, charging clients a fee to guarantee deals should one side default.
GMT 11:02 2018 Tuesday ,11 December
ASE opens trading on lower noteGMT 15:40 2018 Monday ,10 December
Amman stock market closes trading at JD4.4 millionGMT 19:10 2018 Wednesday ,05 December
Index at Palestine stock market drops by less than one pointGMT 17:58 2018 Sunday ,25 November
Amman stock market wraps up trading at JD2.6 millionGMT 14:24 2018 Thursday ,22 November
Russia’s stock market demonstrates record-breaking figures in 2018GMT 11:45 2018 Tuesday ,20 November
Tokyo stocks close lower as tech issues weigh, Nissan tumblesGMT 15:08 2018 Monday ,19 November
Amman stock market wraps up trading at JD6.1 millionGMT 15:51 2018 Sunday ,18 November
U.S. stocks post weekly losses amid tech shares routMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor