HKEx Agrees to Buy LME in $2.2 billion Deal

By Chris Oliver

Hong Kong Exchanges & Clearing HK:388 -4.45% HKXCF +2.56% , operator of the Hong Kong Stock Exchange, said Friday it has entered into a framework agreement to buy the London Metal Exchange in a deal that values the company at 1.39 billion pounds ($2.2 billion). Under the terms of the deal, HKEx will offer 107.60 pounds for each ordinary share of LMEH, the parent company that controls the London Metal Exchange.

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