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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.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
