Hong Kong Exchanges & Clearing 388, +0.33% said it’s offered £29.6 billion ($36.6 billion) for the London Stock Exchange LSE, +10.23%. The bid is valued at 2,045 pence in cash and 2.495 HKEX shares, or 8361 pence a share. The Hong Kong exchange said the proposed combination would strengthen both businesses, better position them to innovate across markets and geographies, and offer market participants and investors unprecedented global market connectivity. LSE shares shot up nearly 15% to 7850 pence