Deals
LME Shareholders Approve HKEx’s $2.2 Billion Takeover Bid
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London Metal Exchange shareholders approved the $2.2 billion takeover offer from Hong Kong Exchanges & Clearing Ltd., ending a 10-month contest.
The vote in London yesterday was more than 99 percent in favor, said Chris Evans, a spokesman for the LME. The board backed the proposal June 15 after offers from rivals including CME Group Inc., Intercontinental Exchange Inc. and NYSE Euronext. The proposal needed the backing of more than 50 percent of shareholders and owners controlling at least 75 percent of the stock in the 135-year-old exchange.