Intercontinental Exchange (ICE) has announced it is considering making an offer for an acquisition or merger deal with the London Stock Exchange Group (LSEG), potentially de-railing a prospective merger of LSEG and Deutsche Börse.
The US-based ICE has not made an official decision to go ahead with an offer, and has not yet approached the board of LSEG. It said in a statement: “There can be no certainty that any offer will be made, nor as to the terms on which any offer will be made.”
ICE will, however, confirm whether or not it intends to make an offer by 5pm on 29 March, in accordance with rules set out in the City Code on Takeovers and Mergers.
This announcement comes after LSEG and Deutsche Börse confirmed they were in talks over a potential merger on 23 February, however talks have been marred by the suggestion from Deutsche Börse that the deal would be threatened if Britain votes to leave the European Union, although it is unclear how a ‘Brexit’ would affect deals with either party.
LSEG declined to comment on the latest announcement.
ICE is being advised by Morgan Stanley and UK financial advisor Moelis & Company.
