Also Interested In London Stock Exchange

Bloomberg, which first reported ICE’s interest, also said CME Group Inc is also working with advisers to potentially challenge a deal between LSEG and Deutsche Boerse, citing people familiar with the matter.

NEW YORK (AP) – The owner of the New York Stock Exchange is considering a bid for the London Stock Exchange, looking to potentially thwart the London exchange’s merger talks with Deutsche Boerse.

Oak Ridge Investments LLC boosted its stake in Intercontinental Exchange Inc (NYSE:ICE) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. This adds to the likelihood that ICE is merely trying to bid up its overseas rival.

Deutsche Boerse could not immediately be reached for comment.

“A bidding war may be in the offing now and we can likely expect some choppy price action between now and March 22 – the deadline for Deutsche Boerse to submit a formal offer for the LSEG”, said analyst Brenda Kelly at traders London Capital Group. The Atlanta-based company hasn’t approached LSE’s board about a deal, it said in a statement.

Shares of LSE, which had a market value of $13 billion at Monday’s close, rose as much as 9 percent to 2,918 pence.

The ICE rumors arose just days after Deutsche Borse and LSE released further details of how the merged company might be structured. Under City of London Takeover Panel rules, Ice has until 5pm on
29 March to make a firm bid or walk away.

The exchange business is rife with acquisitions. A spokesman for Deutsche Boerse also confirmed talks are ongoing. ICE, led by chief executive officer Jeff Sprecher, became a global powerhouse in part through its dealmaking, such as the 2013 acquisition of NYSE Euronext, which gave it a derivatives business called Liffe.

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets.

The Americans and the Germans are poised to battle it out for control of the London Stock Exchange.

The LSE is one of the world’s oldest stock exchanges and can trace its history back more than 300 years.

Similar proposals in 2000 and 2005 did not result in a deal.