Hong Kong Exchanges and Clearing has dropped its bid to acquire the London Stock Exchange Group
New York .
The takeover would have created the world's third-biggest stock exchange behind the New York Stock Exchange and the Nasdaq in terms of the value of companies listed on those markets, according to the operators' data."Today, disappointingly, we announced our decision not to proceed with a firm offer for London Stock Exchange Group," said Charles Li, CEO of HKEX , in a blog post.
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