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Exclusive: Buyout firm CD&R pursues bid with PPG for Buffett-backed Axalta – sources

“Buyout firm Platinum Equity LLC, for example, has been in talks about partnering with Koch Industries Inc on a bid for Axalta, one of the sources said, cautioning that it is possible such a bid does not materialize” writes Midwest Communications Inc for 95kqds.com. CD&R and PPG are discussing forming a consortium to bid for Axalta with other investors that include Singaporean sovereign wealth fund GIC and U.S. asset manager BlackRock Inc, one of the sources said.The bid would come three months after Axalta said it would explore a sale. Source:…

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Hong Kong exchange says it wants to present rejected bid to LSE shareholders

“Hong Kong Exchanges and Clearing Limited 388, +1.43% said shareholders of the London Stock Exchange LSE, +2.18%, “should have the opportunity to analyse in detail both transactions and will continue to engage with them,” an indication it may go hostile with its nearly $37 billion bid” writes European Markets Editor for marketwatch.com. In particular, HKEX had hoped to demonstrate why it believes that the benefits of its proposal significantly outweigh those of the proposed acquisition of Refinitiv,” the exchange said. Source: marketwatch.com

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London Stock Exchange swats away $37 billion Hong Kong offer

“The London Stock Exchange on Friday dismissed the 29.6 billion pound ($37 billion) takeover bid from the Hong Kong Exchanges and Clearing” writes European Markets Editor for marketwatch.com. LSE shares LSE, +1.49%  were stronger on the day, reflecting market sentiment that the bid would fail.The Hong Kong exchange’s relationship with the Hong Kong government also would present difficulties, seeing as governments not just in the U.K. but also the U.S. and Italy would have to sign off on the deal. “Accordingly, your assertion that implementation of a transaction would be…

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LSE rejects Hong Kong bid and says it doesn’t want to hold merger talks

“The London Stock Exchange LSE, +1.32% on Friday rejected the preliminary, 29.6 billion pound ($37 billion) takeover bid from the Hong Kong Exchanges and Clearing 388, +1.43% and said it didn’t want to engage in talks” writes European Markets Editor for marketwatch.com. “The Board has fundamental concerns about the key aspects of the Conditional Proposal: strategy, deliverability, form of consideration and value.Accordingly, the Board unanimously rejects the Conditional Proposal and, given its fundamental flaws, sees no merit in further engagement,” the LSE said. Source: marketwatch.com

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The 14-year feud between Joe Biden and Elizabeth Warren

“The disagreement between the two candidates traces back at least to a 2005 encounter, when Mr Biden was a powerful US senator and Ms Warren was a highly regarded professor at Harvard Law School” writes Clark Mindock for independent.co.uk. The backdrop of the exchange was the collapse of Enron, which was a Houston-based energy company that was going through bankruptcy. Source: independent.co.uk

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The Hong Kong Exchange’s bid for the LSE highlights its desire to finally build the data business it’s lacked to compete with its rivals

“Read more: The Hong Kong Exchange’s bid for the LSE would thwart the London Firm’s $27 billion Refinitiv deal” writes Dan Defrancesco for businessinsider.com. Selling data is big business for exchanges, and the Hong Kong Exchange wants in on the party.Despite seeing a record 26% increase in profits in 2018, HKEX continues to miss out on a major part of most exchanges’ business models: selling data.In the first half of 2019, market data fees represented only 6.5% of the Hong Kong Exchange’s total revenue.The exchange is less than two months…

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Foxconn’s Gou quits Taiwan’s KMT, paving way for presidential bid

“They are down about 20% since Gou announced his presidential bid in mid- April” writes Midwest Communications Inc for 95kqds.com. Analysts say a bid by Gou to become president as an independent could split the KMT, whose presidential candidate, Han Kuo-yu, is struggling in opinion polls.TAIPEI (Reuters) – Terry Gou, the founder of Apple supplier Foxconn, quit Taiwan’s main opposition party on Thursday, paving the way for a possible bid to stand in a presidential election as an independent, complicating President Tsai Ing-wen’s prospects.He has also repeatedly called for closer…

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Europe stocks higher on China move to relax tariffs; LSE rallies on bid

“Europe stocks on Wednesday advanced as a signal of easing tensions between the U.S. and China helped bid equities higher ahead of a critical central bank decision” writes European Markets Editor for marketwatch.com. The LSE didn’t have an immediate comment on the bid.U.S. stock futures ES00, +0.00%  rose after a 73-point advance for the Dow industrials DJIA, +0.28%  on Tuesday. Source: marketwatch.com

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HKEX set to bid approximately £29.6bn for London Stock Exchange

“London Stock Exchange Group plc (LSEG) has once again triggered a bid from a potential buyer” reports financefeeds.com. Under the terms of the Proposed Transaction submitted to the Board of LSEG, LSEG shareholders would receive 2,045 pence in cash and 2.495 newly issued HKEX shares per LSEG share. Source: financefeeds.com

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