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LCH.Clearnet mulls offers
THE BIDDERS for Europe’s sought-after clearing house LCH.Clearnet were waiting for the outcome of a critical board meeting yesterday to decide which of the offers will be accepted.
The decision is crucial for the London Stock Exchange, which is one of two main bidders for a controlling stake in LCH, Europe’s last independent clearing house.
The LSE is competing against post-trade services group Markit, which is keen to buy LCH in entirety, while US exchange the Nasdaq OMX Group has also put in a bid for a minority stake.
One industry source told City A.M. both sides would gain from the LSE winning the bid.