NYSE owner ICE considers offer for LSE
The owner of the New York Stock Exchange confirmed Tuesday that it is considering making an offer for the London Stock Exchange.
Intercontinental Exchange (ICE), based in Atlanta, said it has not yet approached the LSE’s board and no decision has yet been made on whether to pursue a bid.
“There can be no certainty that any offer will be made, nor as to the terms on which any offer will be made,” ICE said in a statement. ” A further announcement will be made as appropriate.”
It said a firm intention to make an offer — or not to — will be made no later than 5 p.m. on March 29.
It comes after the LSE last week confirmed it was in discussions to merge with Germany’s Deutsche Boerse in a deal worth at least $28 billion.
Exchanges are largely looking to mergers and expansion as a way to stay relevant in a rapidly globalizing securities marketplace.