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NYSE Euronext Out Of Bidding For LME, Leaves CME Group Inc., And Others In Race-Reuters


Tuesday, 15 May 2012 08:33pm EDT 

Reuters reported that NYSE Euronext is out of the race to buy the London Metal Exchange, after its reported GBP800 million (USD1.28 billion) bid was deemed too low. NYSE submitted a binding bid for the 135-year-old LME last week as part of the second round of the takeover process. This leaves Hong Kong Exchanges and Clearing Limited, CME Group Inc. and IntercontinentalExchange Inc. vying for metals marketplace. Its bid was around GBP800 million, the Financial Times reported. 

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