LSE Re-Evaluates Bid For LCH.Clearnet

The London Stock Exchange has pulled out of a consortium of banks led by Icap that is considering a takeover bid for LCH.Clearnet. The clearer has had extensive talks with the consortium but that is still awaiting an offer. Speaking

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The London Stock Exchange has pulled out of a consortium of banks led by Icap that is considering a takeover bid for LCH.Clearnet. The clearer has had extensive talks with the consortium but that is still awaiting an offer.

Speaking to a Reuters reporter at the Futures Industry Association conference LCH.Clearnet chief Roger Liddell, confirmed the talks but said no offer had been made.

“We’ve been providing a lot of information. They’ve been doing a huge amount of due diligence, but we’ve had no offer,” says Liddell.

According to Liddell, company reconsiders earlier agreed merger pact with the US-based Depository Trust and Clearing Corporation.

“We’re in a considerably changing landscape and reevaluating the situation. It’s a very lengthy, complicated legal process and none of this is simple,” says Roger Liddell.

L.D.

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