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LCH.Clearnet seeks deal
The management of clearing house LCH.Clearnet wants to combine its own restructuring plan with a €813m takeover offer from a consortium of 11 banks and interdealer broker ICAP.
LCH.Clearnet management has proposed buying out the firm’s 123 shareholders who would then be invited to reinvest on an equal basis. The firm’s management hopes offering board control, plans to restructure part of its technology platform and further cuts in clearing fees would be enough to tempt the consortium.