London Stock Exchange acquires LCH.Clearnet

London Stock Exchange Group (LSEG) has been given the go-ahead to acquire a majority stake in European clearing house LCH.Clearnet.

London Stock Exchange Group (LSEG) has been given the go-ahead to acquire a majority stake in European clearing house LCH.Clearnet.

The British multinational stock exchange said it received acceptances to buy 55.5% of the exiting issued ordinary share capital of LCH.Clearnet, which clears a broad range of asset classes including interest rate swaps, equity settlements, energy, bonds and repo, and futures.

The transaction will bring LSEG's holding up to 57.8% holding.

While the acceptance condition has been satisfied, the revised offer remains subject to the terms and conditions laid out in the offer document.

The revised offer will be extended to allow more time for remaining LCH.Clearnet shareholders to participate and will remain open for further acceptances until April.

Completion is expected in the second quarter of 2013.

RD

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Bitcoin: fool’s gold or the new gold?
Bitcoin

Bitcoin: fool’s gold or the new gold?

With bitcoin hitting new highs last week, and close to becoming a mainstream investment, is it really gold for the 21st century?
15 Jan 2021
The MoneyWeek Podcast: bitcoin special
Bitcoin

The MoneyWeek Podcast: bitcoin special

Merryn talks to bitcoin experts Dominic Frisby and Charlie Morris to get the lowdown on the cryptocurrency to find out why it's such a huge global phe…
15 Jan 2021
Leasehold reforms promise the end of a nightmare for many homeowners
Property

Leasehold reforms promise the end of a nightmare for many homeowners

Horror stories about unscrupulous landlords profiting from a legal relic of the feudal era are about to get a happy ending, says Simon Wilson.
16 Jan 2021