ICE prepares £10bn LSE bid to rival Deutsche Boerse

According to reports

The owner of the New York Stock Exchange (NYSE), the Intercontinental Exchange (ICE), has secured funding for a £10bn rival bid for the London Stock Exchange, according to reports.

The owner of the NYSE said it was considering bids following the news of merger talks between the LSE and Deutsche Boerse, Germany's exchange. The LSE and Deutsche Boerse agreed to enter a 'merger of equals' late last month, in a bid to create a stronger platform for securities trading. The deal would see LSE holding 45.6% of the enlarged group, while the German stock exchange would own the remaining 54.4%. The merger between the two giants is expected to be completed by the end of this year, or in Q1 2017, and would see LSE chief executive Xavier Rolet step down from his role. ...