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UK/US: Owner of NYSE interested in bidding for the London Stock Exchange

By  |  March 1, 2016

Intercontinental Exchange Inc. and CME Group Inc. are considering bids for London Stock Exchange Group PLC, potentially gate-crashing the British company’s proposed $28 billion merger with Deutsche Börse AG.

ICE, the owner of the New York Stock Exchange, said in a statement Tuesday it was mulling a bid for the LSE, but had yet to make a decision and hadn’t made any approach to the British company.

CME, the operator of the Chicago Mercantile Exchange, is also considering an approach for LSE, according to a person familiar with the matter.

The news comes a week after the LSE said it was in advanced talks with Deutsche Börse about a so-called merger of equals that would value the combined company at about $28 billion based on their closing stock prices the day before the announcement.

A bid from either ICE or CME would be one way to stop the formation of a leading European exchange that could pose a formidable threat to the two leading US exchanges.

Full content: The Wall Street Journal

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