UK/US: Owner of NY Stock exchange says it will not bid for London rival

Intercontinental Exchange, the owner of the New York Stock Exchange, said on Wednesday that it had no plans to make an offer for the London Stock Exchange Group.

The announcement removes one potential rival to a planned merger between the London Stock Exchange and Deutsche Börse, which confirmed they were in discussions in February and agreed to merge in an all-stock deal in March.

Deutsche Börse and the London Stock Exchange are aiming to create a European champion in a rapidly consolidating industry, but analysts have speculated that the deal could be undone by a rival bid from Intercontinental Exchange, also known as ICE, or from another exchange operator. ICE said in March that it was considering its own move for the London exchange.

The CME Group — which operates the Chicago Mercantile Exchange, the Chicago Board of Trade and the New York Mercantile Exchange — and Hong Kong Exchanges and Clearing have also been seen as potential bidders.

“Following due diligence on the information made available, ICE determined that there was insufficient engagement to confirm the potential market and shareholder benefits of a strategic combination,” ICE said on Wednesday.

Full Content: NY Times

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