Article Abstract:
OM Gruppen's hostile bid for London Stock Exchange (LSE) was effectively dealt a blow on 19 October 2000 when the latter's shareholders agreed to retain the limit on individual holdings of 4.9%. LSE chairman, Don Cruickshank, said after the vote that any bidder required the support of 75% of shareholders to succeed. LSE, the focus of a GB[pound] 1bn bid from Swedish stock exchange, also revealed higher profits for the six months to end-September 2000 on margins up to 33% from 21%. OM noted that the close nature of the vote meant that it might be successful with the bid. Table: London Stock Exchange Figures in GB[pound] mn Current Previous/Change Pre-tax profits 29.1 - 89%
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Article Abstract:
London Stock Exchange (LSE) chairman, Don Cruickshank, revealed on 20 June 2000 that although he would not halt the integration of the London and Frankfurt stock exchanges, there could be delays ahead. While stressing that the deal was on track, Mr Cruickshank admitted that the vote by shareholders on the iX merger in September 2000 may be deferred in order to deal with the fears of certain interested parties. Shareholders on both exchanges will receive a memorandum detailing the deal's terms in July 2000 and it is hoped that the merger will be completed in October 2000.
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Article Abstract:
So that they can compete more effectively with Euronext, the alliance linking the Brussels, Paris and Amsterdam stock exchanges, the UK London Stock Exchange could decide to merge with Liffe. Such a move would unite cash equity activities and equity options businesses and also cater better for the retail investor who is likely to take an interest in derivatives products investing. Financiers are lobbying the Bank of England to back such a merger, although publicly it is still neutral about the idea.
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