Newspaper article International New York Times

Owner of N.Y.S.E. Won't Bid for London Exchange

Newspaper article International New York Times

Owner of N.Y.S.E. Won't Bid for London Exchange

Article excerpt

The decision by Intercontinental Exchange removed one potential challenger to a planned merger between the London Stock Exchange Group and Deutsche Borse.

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 by the London Stock Exchange and Deutsche Borse, which confirmed they were in discussions in February and agreed to an all-stock deal in March.

Deutsche Borse and the London Stock Exchange want to create a European champion in a rapidly consolidating industry, but analysts have said 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 a bid for the London exchange. …

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