ICE reveals potential rival bid for London Stock Exchange

London-Stock-Exchange-Logo-700.jpgIntercontinental Exchange has revealed it is considering a rival bid for LSE in order to counter the proposed merger of LSE with Deutsche Boerse.

Bloomberg reports that US group ICE is considering a counterbid, as it was revealed that the LSE-Deutsche Boerse merger would create a dominant European exchange.

However, ICE says no approach has been made to the board of LSE and it has not made a final decision as to whether to make a formal offer.

Shares in LSE rose 8.8 per cent to a record high of £29.14 after the bid rumours were revealed.

ICE is no stranger to a merger deal, having taken over International Petroleum Exchange in 2001, the London derivatives exchange Liffe in 2013, and energy trading platform Trayport in 2015.