Macquarie signals end to quest for London Stock Exchange
0 Comments | AFP, February, 2006
LONDON (AFP) — Australian investment group Macquarie Bank signalled an end to its faltering bid for the London Stock Exchange, saying there were no plans to raise its offer of 1.5 billion pounds (2.2 billion euros, 2.63 billion US dollars).
Macquarie's takeover vehicle, MLX, said that the current 580-pence-per-share bid would not be extended to LSE shareholders beyond February 28, according to a statement.
"MLX has concluded that an increased offer on terms acceptable to MLX and its investors is unlikely to be acceptable to LSE shareholders," the statement said Monday.
"As a result, MLX has determined that it will not increase the terms of its existing offer and that it will not extend its offer beyond 28 February 2006."
Prior to Monday's statement,...
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