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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
-
Nvidia's earnings live: stock gains as investors brace for key resultsNvidia's stock opened strongly ahead of its earnings, as analysts question whether Blackwell sales can make up for lost China revenue
-
8 of the best lakeside properties for saleThe best lakeside properties – from a house on the southeastern shore of Loch Lomond, to a 15th-century hall overlooking a lake in King’s Lynn, Norfolk
