LCH.Clearnet in crunch talks over possible takeover deal
LONDON-based clearing house LCH.Clearnet is in crunch talks this week over a possible takeover deal in the latest wave of global exchange consolidation, City A.M. understands.
Boardroom discussions are taking place this week at the world’s largest swaps clearing house, as the firm weighs bids from several potential suitors that could value it at anywhere up to €1bn (£897m).
Approaches are understood to have come in from the New York Stock Exchange (NYSE), in conjunction with data provider Markit, and rival US bourse operator Nasdaq.
Senior staff at LCH.Clearnet have been told to cancel leave in order to evaluate the offers being tabled, City A.M. understands.
The development comes after it emerged that Nasdaq made a bid for a minority stake in the company earlier this month.
NYSE chief Duncan Niederauer also revealed earlier this month that his bourse was in talks to buy the firm.
The London Stock Exchange had also been linked with a bid for the company, although later said it was not in discussions with LCH.Clearnet.
LCH.Clearnet declined to comment.