NYSE owner mulls gatecrash of LSE/Frankfurt merger

Shares in the London Stock Exchange jumped 7 per cent today after the owner of the New York Stock Exchange (NYSE) said it was weighing up a rival bid for the bourse.

People walk in the foyer of the London Stock Exchange. Picture: Getty Images

Intercontinental Exchange (Ice) said it had not approached the LSE’s board, which last week unveiled a £20 billion merger plan with Deutsche Boerse of Frankfurt that would give the Germans a majority 54 per cent of the combined business.

That deal would also see the departure of LSE chief executive Xavier Rolet. Under City of London Takeover Panel rules, Ice has until 5pm on 
29 March to make a firm bid or walk away.

The LSE’s shares closed at 2,870p. Both the London and Frankfurt exchanges have also suggested a Brexit vote could derail their proposed merger.