Read AlphaValue's note on LONDON STOCK EXCHANGE GROUP (LSE), out this morning, by visitinghttps://www.research-tree.com/company/GB00B0SWJX34 "ICE announced during its Q1 16 earnings release that it won’t be proceding with a bid on the LSEG as we had been expecting for weeks with a high probability. ICE justified the move as “following due diligence on the information made available, ICE determined that there was insufficient engagement to confirm the potential market and shareholder benefits of a strategic combination”. This is at first glance a courteous way to define LSEG’s management behaviour not to cooperate. As confirmed by ICE’s CEO, Jeffrey Sprecher, ICE’s board had tried and failed to arrange meetings with the LSEG. Following the announcement, the..."
Read AlphaValue's note on LONDON STOCK EXCHANGE GROUP (LSE), out this morning, by visiting https://www.research-tree.com/company/GB00B0SWJX34 "More than two months after the Deutsche Boerse/LSEG merger announcement which was immediately followed by ICE’s formal interest in the latter, the share price of the UK stock exchange is 7% lower than its highest levels (around 2900p)... This takes into account a probable counter-bid by another major stock exchange, be it HKEx (Hong Kong Exchanges), CME or especially ICE followed then by another bid by a willing Deutsche Boerse. We had indeed estimated..."
Cant help thinking this is very bad news for the UK Financial Services Industry. Next, Frankfurt and LSE will combine into one Exchange, then all functions of London will gradually drift over to Frankfurt and UK jobs with them , then gradually all of the City of London's most important exchanges and functions will go to Germany, especially if we vote to stay in the EU in June. Takeover by Stealth of our most valuable industry - something even Napoleon Bonaparte and a certain A Hitler never managed to achieve ! Notice its been sold by a French CEO !
In all seriousness this should be blocked, whether we stay in the EU or not it won't be pretty for us.Yet another British asset being given away to foreign majority shareholding so the top people can line their pockets. I hope the shareholders vote no!
It all looks good London, Frankfurt and Milan exchanges and with Topco based in the UK too. It's one I've had tucked away long term where it will stay. The planned cost cutting and savings look impressive and will add plenty of value once instigated and carried through I wonder what further expansion they maybe considering.
Theres a lot happening here in the next few weeks 22nd March for the krouts and 29th march for the yanks. I reckon its worth a punt even at todays price if a few more univited guests come along and we have no more silly market corrections it could be a really happy party.
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