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Headland Consultancy is fronting Hong Kong Exchanges and Clearing Ltd.'s $37B bid to buy the London Stock Exchange, a transaction that it claims would create “a global market infrastructure leader.”
HKEC pitches the deal as a platform to connect the “established financial markets in the West with the emerging markets in the East, particularly in China.”
CEO Charles Li says it would join “businesses with great brands, financial strength and proven track records” and “redefine capital markets for decades to come.”
LSE chief David Schwimmer, a former Goldman Sachs executive, called the HKEC proposal “preliminary and highly conditional.” His board will mull the offer and “make a further announcement in due course.”
The LSE is in the midst of its own mega-deal, a $30B offer to buy Refinitiv data and trading outfit.
Mike Smith, former Finsbury UK CEO, Brunswick partner and Financial Times reporter, is working the deal for London-based Headland.
He’s joined by former Tulchan Communications partners Susanna Voyle and Stephen Malthouse.
BGR Group represents Noble Supply and Logistics as it files for Chapter 11 due to a change in its weapons support contract with the Defense Logistics Agency.
C Street Advisory Group is handling the Chapter 11 filing of LIV Golf following the move by Saudi Arabia’s Public Investment Fund to pull the financial plug on the League. (Updated)
Teneo handles Bamboo Insurance Services as the Midvale, UT-based marketer of homeowner policies files a Form S-1 statement with the SEC for an initial public offering.
FTI Consulting handles West Marine as the nation’s leading retailer of marine parts and accessories for boating, fishing and sailing enthusiasts emerges from Chapter 11 bankruptcy.
Throughline Global Advisors represents Principal Mineral as it acquires Conductive Group, manufacturer of advanced materials for the aerospace, telecommunications and electronics sectors.
