As a result, the Hong Kong bourse withdrew its offer. Following its initial approach, under UK takeover rules HKEX had until Wednesday 9 October to make a binding offer for LSEG, but having withdrawn its offer is now unable to pursue a renewed deal for at least six months. "The board of HKEX continues to believe that a combination of [LSEG] and HKEX is strategically compelling and would create a world-leading market infrastructure group," HKEX said in a regulatory statement. "Despite engagement with a broad set of regulators and extensive shareholder engagement, the board of HKEX is disappointed that it has been unable to engage with the management of LSEG in realising this vision, and as a consequence has decided it is not in the best interests of HKEX shareholders to pursue this proposal." At the weekend, reports emerged which suggested that HKEX had been told by LSEG's shareholders to increase its takeover offer to £90 a share, a 22 percent premium on LSE's recent share price of £73.80.