Deals
ICE Drops Potential LSE Bid, Saying Executives Shunned Talks
- ICE walks away, citing lack of talks with London exchange
- LSE agreed to $14 billion takeover by Deutsche Boerse in March
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Intercontinental Exchange Inc. abandoned its potential offer for London Stock Exchange Group Plc., paving the way for Deutsche Boerse AG’s $14 billion acquisition of the British company.
LSE shareholders hoping for a higher offer were disappointed, sending the shares tumbling. ICE put the blame on the London exchange, saying LSE executives wouldn’t meet to discuss a possible buyout, and didn’t engage even after ICE publicly said it was weighing an offer back in March. LSE countered that ICE never made an approach.