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ICE rules out rival bid for London Stock Exchange Group

Reuters - UK Focus

LONDON, May 4 (Reuters) - Exchange and clearing house operator Intercontinental Exchange Inc (NYSE: ICE - news) said on Wednesday it did not intend to make an offer for London Stock Exchange (Other OTC: LDNXF - news) Group Plc, which has agreed to merge with German peer Deutsche Boerse (LSE: 0H3T.L - news) .

"Following due diligence on the information made available, ICE determined that there was insufficient engagement to confirm the potential market and shareholder benefits of a strategic combination," ICE said in a statement.

"Therefore, ICE has confirmed that it has no current intention to make an offer for LSEG," the company added. (Reporting by Noor Zainab Hussain, editing by Sinead Cruise)