The owner of the New York Stock Exchange says it's considering making a bid for the London Stock Exchange, which has agreed to merge with Deutsche Boerse. Fred Katayama reports.
Talk about an ice breaker. ICE could crash the proposed wedding between the London Stock Exchange and Deutsche Boerse. The owner of the New York Stock Exchange said it's considering making a bid for the LSE. The Intercontinental Exchange added, however, that it has not yet made an approach. A move by ICE could push Deutsche Boerse and any other interested party to up their ante. Numis Securities analyst Jonathan Goslin said, "It's going to force anybody that has been potentially looking to step up or go away." Media reports say Chicago Mercantile Exchange operator CME Group is also weighing a bid for the LSE. Shares of LSE catapulted to a record high, while Deutsche Boerse edged lower. ICE shares falling at the start of trading. A source says the LSE and Deutsche Boerse are betting that European regulators and governments will give them their political blessing. Four years ago, EU regulators blocked a merger between NYSE Euronext and Deutsche Boerse citing anti-monopoly concerns. ICE already has a big share of Europe's derivatives market through its purchase of NYSE Euronext three years ago. Under British takeover rules, ICE has until March 29 to make an offer.