There are reports that the New York Stock Exchange has sounded out several key shareholders in the London Stock Exchange about buying their stakes as it considers making a bid for its UK rival.
The Reuters news agency quoted sources as saying that the NYSE's adviser, Citigroup, approached a number of LSE shareholders on Monday to gauge their interest in selling stakes in the exchange for no less than £11.75 per share. This would value the LSE overall at about £3 billion.
The sources said these shareholders had not sold to the New York Stock Exchange. The move has prompted speculation the NYSE may be getting ready to enter the race for LSE shares with its New York rival Nasdaq, which last week bought a 15% stake in the London exchange.
The NYSE first revealed on Friday that it was in talks over a strategic acquisition. Takeover speculation has surrounded the exchanges as they explore ways to link up to try to boost volumes and cut costs.
The NYSE move comes after it was revealed that Nasdaq has borrowed $2 billion to help finance its purchases of LSE shares.
