Hostile takeovers: The ones that got away…

The battles usually give investors a choice between pocketing the money on offer or gambling on a firm’s prospects. As the deadline for Pfizer to table a formal bid for AstraZeneca nears, we look at how investors have fared over the years in companies that successfully saw off unwelcome approaches.  Is there any company with more deals that never were than the London Stock Exchange? In May 2000 the LSE announced plans to merge with Germany’s Deutsche Börse to create iX.  The deal collapsed under its own weight after igniting a storm of controversy, but the end of the affair triggered a decade in which the LSE batted away bid after bid.  The Nordic exchange operator OM Gruppen, the Australian bank Macquarie, the Paris-based Euronext and Deutsche Börse (again) all made formal or informal approaches…here

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