NYSE takeover bid for London Stock Exchange

NYSE takeover bid for London Stock Exchange

2 March 2016, 10:36
Aaditya Bhagra

ICE, the owner of the New York Stock Exchange might gatecrash the merger bid between the London Stock Exchange and the Deutsche Boerse with a counter bid offer.

Quote from the telegraph today :

"Shares in LSE soared to a record high of £29.14 this morning after Intercontinental Exchange (ICE), which  operates global exchanges, clearing houses and data services, said it may make an offer. 

However, it said it had not yet approached the LSE board, or made a decision about whether to pursue a possible offer.

"There can be no certainty that any offer will be made, nor as to the terms on which any offer will be made," ICE said in a statement. 

ICE has appointed Morgan Stanley to advise on a higher offer for the British group.

It is unlikely that ICE will make its move before a UK takeover deadline on March 22, Bloomberg reported.

News that the LSE was in “detailed discussions” with its German rival about an all-share merger that would leave its investors owning 45.6pc of the company emerged last week."



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