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Hong Kong Exchanges and Clearing made an unsolicited US$39-billion takeover bid for the London Stock Exchange, an offer contingent on the LSE ditching its planned acquisition of data company Refinitiv.

The offer is the latest attempt at an exchange megamerger after multiple failures between LSE and Deutsche Boerse over the past 17 years.

Hong Kong Exchanges launches $39-billion unsolicited bid to take over London Stock Exchange

The LSE’s share price, up more than 2,000 per cent since it listed in 2001, reflects its frequent position as a bid target.

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MARCH 2017

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

MARCH 2016

ICE said it might launch a rival bid to Deutsche Boerse’s offer for LSE but shelved those plans in May.

FEBRUARY 2016

Nearly 16 years after their first attempt to merge, LSE and Deutsche Boerse confirmed they were holding detailed discussions on an all-share merger.

MAY 2014

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LSE announced talks to buy Russell Investments in a deal to expand its stock index business in the United States.

MARCH 2013

LSE acquired 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 in June, 2011, in the face of a competing bid.

DECEMBER 2009

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LSE bought a majority stake in platform rival Turquoise, granting it immediate access to pan-European share trading.

JUNE 2007

LSE agrees to buy its Italian counterpart for €1.6-billion ($2.3-billion), aiming to become “the world’s capital market”.

MARCH 2006

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

DECEMBER 2005

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Macquarie makes a formal cash offer for LSE valuing it at £1.5-billion ($2.4-billion).

DECEMBER 2004

Deutsche Boerse offers 520 pence a share for LSE, valuing it at £1.3-billion ($2.1-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 Proposed offer is withdrawn in March, 2005.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

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

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