01 December 2015

LCH.Clearnet rebuff's Icap-led takeover approach - Reuters

15 July 2009  |  4974 views  |  0 Dead end

LCH.Clearnet last month rejected a takeover offer from an Icap-led consortium due to concerns about the business plan, according to a report from Reuters citing "two people familiar with the matter".

The Icap-led consortium of 14 banks and brokers formally tabled a EUR800+ million bid for the London-based clearer in May.

The LCH board discussed the bid on June 18 but subsequently turned it down, say Reuters' sources.

The consortium says that it remains in contact with the clearer and may return to the table with an improved offer in September.

LCH.Clearnet's management also proposed buying out its 123 shareholders, who would then be invited to reinvest on an equal basis, but that proposal was also rejected by the board, reports the newswire.

LCH rejects group's offer, talks continue - sources - Reuters.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

27 May, 2009
13 May, 2009
11 May, 2009
07 May, 2009
01 May, 2009
29 April, 2009
13 March, 2009
05 March, 2009

Related company news


Top topics

Most viewed Most shared
EPC publishes proposals for pan-European i...
8068 views comments | 36 tweets | 33 linkedin
Former Barclays chief forecasts massive jo...
7696 views comments | 30 tweets | 36 linkedin
WeChat launches mobile wallet in South Afr...
6675 views comments | 20 tweets | 16 linkedin
BBVA Bancomer first to roll out dynamic CV...
6406 views comments | 14 tweets | 21 linkedin
Hilton confirms data breach
5908 views comments | 11 tweets | 17 linkedin

Featured job

Competitive base, double OTE
New York City, NY. USA

Find your next job