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15/08/2005
Macquarie considers London Stock Exchange bid
Australian investment bank Macquarie has announced that it is considering a bid to take over the London Stock Exchange.
The Sydney-based firm released a statement announcing that it was considering a bid for the LSE. However, the statement stressed that the deliberations were at the “most preliminary of stages” and added that if a bid were made, it would be likely to be in cash and as part of a consortium.
Two other exchanges have also expressed interest in the LSE – France’s European Exchange Euronext and Germany’s Deutsche Boerse.
Deutsche made an unsuccessful £1.35 billion bid for the LSE in March.
The UK Competition Commission had expressed concerns that a takeover of the LSE by either Euronext or Deutsche Boerse would lessen competition, as they are the only three major exchanges in Europe.
Macquarie is known to focus its attention the acquisition of property and infrastructure, such as roads and airports. However, the takeover of the LSE would fit the firm’s model of purchasing a business with solid earnings and the potential to increase fees.
Macquarie currently has around$91 billion of assets worldwide, including airports and airports, and also already has interests in the UK, including airports in Bristol and Birmingham and a 31% interest in gas distribution firm Wales and West Utilities.
(KMcA/SP)
The Sydney-based firm released a statement announcing that it was considering a bid for the LSE. However, the statement stressed that the deliberations were at the “most preliminary of stages” and added that if a bid were made, it would be likely to be in cash and as part of a consortium.
Two other exchanges have also expressed interest in the LSE – France’s European Exchange Euronext and Germany’s Deutsche Boerse.
Deutsche made an unsuccessful £1.35 billion bid for the LSE in March.
The UK Competition Commission had expressed concerns that a takeover of the LSE by either Euronext or Deutsche Boerse would lessen competition, as they are the only three major exchanges in Europe.
Macquarie is known to focus its attention the acquisition of property and infrastructure, such as roads and airports. However, the takeover of the LSE would fit the firm’s model of purchasing a business with solid earnings and the potential to increase fees.
Macquarie currently has around$91 billion of assets worldwide, including airports and airports, and also already has interests in the UK, including airports in Bristol and Birmingham and a 31% interest in gas distribution firm Wales and West Utilities.
(KMcA/SP)
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