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Mac Bank eyeing London Stock Exchange

Mac Bank eyeing London Stock Exchange

(16 August 2005 – UK) Macquarie Bank could be part of a consortium that takes over the London Stock Exchange (LSE). The Australian investment bank is reportedly willing to pay more than ₤1 billion for the LSE but faces competition from OM Gruppen which owns the Swedish stock exchange, London’s Euronext and Deutsche Bourse.

Deutsche Bourse put in a ₤1.3 billion bid for the 900 year old LSE back in March but withdrew in the face of shareholder hostility.

The listed LSE, for its part, hopes to continue as an independent company. Its share price reached a six month high following renewed takeover speculation.

Macquarie said any formal bid would be made as part of a consortium and that it would be made in cash.
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