LME recommends £1.4bn HKEx bid
IRJ - June 15 - Hong Kong Exchanges and Clearing has agreed to purchase the London Metals Exchange for £1.388 billion with the board of LME Holdings set to recommend the cash offer be voted through in July. The transaction is expected to close in the fourth quarter.
HKEx chief executive Charles Li said, “The acquisition of LME Holdings represents a unique opportunity for us to acquire in one stroke a position of global leadership in the commodities market…HKEx brings a unique ability to help the LME grow its business in Asia and, particularly, China and we will capitalise on this to deliver value for all our stakeholders.”
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