Xavier Rolet, the London Stock Exchange boss, has warned American competitors against launching a rival takeover bid for the British exchange, which is currently in merger talks with Germany’s Deutsche Borse.
He made his comments after it emerged that U.S. stock market operator Intercontinental Exchange was preparing to make an offer for London Stock Exchange, and that the Americans had already secured the necessary financing.
“I don’t want the LSE ever again to be on the receiving end of a hostile takeover, where you come in, you get what you want, you chuck out the rest – this is not what it is about,” said Mr. Rolet in an interview with British newspaper City.
Mr. Rolet was referring to ICE’s take over of the New York Stock Exchange, which had in 2006 merged with Euronext, a European multi-country exchange. ICE acquired the merged company in 2013, sold off portions of it and then radically restructured the remainder.