my good musing mate this feso study has taken much longer than people expected! I know it comes in May, but after that they have to start thing moving VERY FAST! how many pages you recon it will be? 100, 500, 1000 pages!!? ;-) LOOL Her will come good, but for me everything will be decided after the feso, I either sell and move on , or stay right to the end game with you my good musing mate! GL
The days when the London Stock Exchange was a market for trading equities with a few ancillary services bolted on are long gone. The diversification brought about by Xavier Rolet, the Chief Executive, means that, in the final quarter of last year, capital markets accounted for less than a third of revenues of 208.9m pounds, which rose by 6 per cent. Analysts seized on an uptick in that income from flotations as a positive factor, but this remains at a low level, and the total number of companies quoted on the LSE's three equities markets is still in decline. The shares performed well last year, up by about 50 per cent since the start, and are at their highest level for nearly five years. A rating of 12.6 times consensus earnings for the year to end-March does not suggest much upside until the benefits of LCH are clearer, Tempus believes.
London Stock Exchange Group announced on Monday that it has shaken hands on a deal which will see it purchase a majority stake in LCH.Clearnet, but at a reduced price to that agreed back in April. The company will now purchase the stake at €15 a share, around four euros lower than previously agreed price. The two groups have agreed to extend the longstop date of the transaction until January 31st 2013 in order to finalise the detailed terms of a revised offer. LSE has provisionally agreed to make a revised offer for a majority stake of up to 60% of LCH.Clearnet comprising €14 per share in cash, which will be paid on completion of the transaction, plus a further one euro per share in cash paid at the end of September 2017 (replacing a previously announced one euro special dividend) which will be reduced as a result of any claims. The group said the offer price is based on an assumption of a €300m capital raise. In a statement LSE said: "Subject to completion of the transaction, LSE has agreed to participate in respect of its post transaction pro-rata share (expected to be approximately, but no more than, 60%) of the LCH.Clearnet capital raise, provided that continuing LCH.Clearnet shareholders commit to fund the balance of the capital raise."
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