No bid for LSE, confirms ICE 05 May 2016 London Reporter: Drew Nicol
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Intercontinental Exchange (ICE) has confirmed it will not place a counter-bid to Deutsche Börse’s offer for a merger with the London Stock Exchange Group (LSEG).
ICE, which already operates 11 global exchanges and six clearinghouses, stated that, following due diligence on the information made available, there was “insufficient engagement to confirm the potential market and shareholder benefits of a strategic combination”.
The decision comes three months after ICE first announced it was considering making an offer for LSEG following the revelation that the exchange was engaging in talks with Deutsche Börse for a potential ‘all-share merger of equals’ in February.
ICE has clarified that it reserves the right to reconsider making a bid for LSE within the next six months if the ongoing talks with with Deutsche Börse eventually collapse.
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