No bid for LSE, confirms ICE
05 May 2016 London
Image: Shutterstock
Intercontinental Exchange (ICE) has confirmed it will not place a counter-bid to Deutsche B枚rse鈥檚 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 鈥渋nsufficient engagement to confirm the potential market and shareholder benefits of a strategic combination鈥�.
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 B枚rse for a potential 鈥榓ll-share merger of equals鈥� 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 B枚rse eventually collapse.
ICE, which already operates 11 global exchanges and six clearinghouses, stated that, following due diligence on the information made available, there was 鈥渋nsufficient engagement to confirm the potential market and shareholder benefits of a strategic combination鈥�.
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 B枚rse for a potential 鈥榓ll-share merger of equals鈥� 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 B枚rse eventually collapse.
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