The London Stock Exchange and Singapore Exchange have teamed up on a joint bid for the London Metals Exchange, according to Reuters.
The LME confirmed late last week that it is pondering "several expressions of interest" about a takeover that could be worth £1 billion.
According to Reuters, citing a source, the LSE and SGX have decided to join forces, appointing a bank to advise them on a bid.
Both bourses have recently seen ambitious mergers fall through, with the LSE failing in its bid for Canada's TMX Group and Australian regulators thwarting Singapore Exchange's deal with the ASX.
The pair are likely to face stiff competition, with CME Group, ICE and Icap all rumoured to be considering their options.
SGX, LSE tie-up for joint London Metal Exchange - Reuters
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