London Stock Exchange facing takeover

THE London Stock Exchange (LSE) was yesterday facing the prospect of a second takeover approach from the Australian investment bank Macquarie.

The first proposal, worth £1.48 billion (€2.2bn) was labelled “derisory” by the LSE last week, but Macquarie is said to be considering a move to improve the value ahead of Thursday’s Takeover Panel deadline for it to “put up or shut up”.

A report in the Daily Telegraph said Macquarie may have to offer as much as €2.7bn, although one newspaper indicated the acquisitive bank was likely to settle for a proposal worth €2.4bn and financed with around €1.5bn of debt.