(Bloomberg) -- London Stock Exchange Group Plc,
Europe's third-largest exchange, agreed to buy Italy's Borsa
Italiana SpA for 1.63 billion euros ($2.2 billion) in shares as
increased competition forces equity markets to consolidate.
The U.K. exchange will offer 4.9 of its own shares for each
share of the Milan-based operator of the Italian stock market,
the companies said in a joint statement today. The transaction
values each Borsa share at 100.70 euros, the statement said,
giving the new company a market value of about 5.8 billion euros.
Read more at Bloomberg Stocks News
Europe's third-largest exchange, agreed to buy Italy's Borsa
Italiana SpA for 1.63 billion euros ($2.2 billion) in shares as
increased competition forces equity markets to consolidate.
The U.K. exchange will offer 4.9 of its own shares for each
share of the Milan-based operator of the Italian stock market,
the companies said in a joint statement today. The transaction
values each Borsa share at 100.70 euros, the statement said,
giving the new company a market value of about 5.8 billion euros.
Read more at Bloomberg Stocks News
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