The UK Takeover Panel has set a December 15 deadline for Macquarie Bank, the Australian financial group, to declare its intentions regarding a possible bid for the London Stock Exchange. Macquarie must by 5pm that day say whether or not it intends to make an offer for LSE.
Macquarie had first revealed in August its interest in a possible joint bid for the LSE.
The battle to control the LSE began in December last year, when Deutsche Boerse, operator of the Frankfurt stock exchange, tabled an informal offer of 530p per share, valuing the business at £1.3 billion. The offer was later rejected as too low.
Euronext, which operates the Dutch, Belgian, French and Portuguese stock exchanges, has also revealed its interest in taking over its British rival.
