Intercontinental Exchange Doesn't Have Any Plan To Make An Offer For London Stock Exchange

Intercontinental Exchange, Inc. ICE revealed it doesn't have any plan to make an offer for London Stock Exchange Group (LSEG) plc. The decision was taken following due diligence on the information made available and it found that there was insufficient engagement to confirm the potential market and shareholder gains of a tactical combination.

On March 1, Intercontinental Exchange indicated it was considering making an offer for LSEG. Its latest decision puts to rest all the speculations and rumors of an impending merger or takeover. However, it reserved the right to make an offer or participate in an offer in the next six-month period.

The company said it would need the consent of the takeovers and mergers panel to proceed further in the matter if it opts to make an offer in the future. It pointed out that LSEG and Deutsche Borse AG deal was either withdrawn or lapsed on March 16.

On Tuesday, the stock shed 1.51 percent.