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UK watchdog okays Mac Bank LSE bid

UK watchdog okays Mac Bank LSE bid

(6 February 2006 – UK) UK financial services watchdog the Office of Fair Trading (OFT) has given the green light to Macquarie Bank’s attempt to acquire the London Stock Exchange. The OFT said it would not refer Macquarie’s proposition to the Competition Commission.

Late last month the LSE issued a 40 page document recommending its shareholders reject the offer from the Australian investment bank.

"It disregards our strategic position, it ignores the quality and value of our franchise, it incorrectly states that we have low growth prospects and it overlooks the re-rating and exciting potential of the sector," the document said.
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