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ICE's Sprecher disappointed with LSE's lack of engagement on would-be merger


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ICE's Sprecher disappointed with LSE's lack of engagement on would-be merger

'stop executive expressed frustration at London Stock Exchange Group Plc's disinterest in amerger during ICE's first-quarter earnings call.

The"disappointing" level of engagement from LSE ICE from being able to fullydetermine the benefits and risks of integrating the businesses, Chairman andCEO Jeffrey Sprecher said.

InApril, LSE CEO Xavior Rolet harshly criticized ICE, and its M&A record in particular,when asked if the company would consider an offer from the American exchange.

Sprechersaid in response to a question that the company's M&A strategy has alwaysrelied on transparency and trust with shareholders.

"Whenwe can't get visibility and don't have confidence [in a deal], it makes itvery, very hard for us to look our shareholders in the eye and suggest that weare going to deliver a specific amount of performance," he responded.

ICEcould still be allowed to make an offer if the U.K. Panel on Takeovers andMergers consents to it, the company noted in a press release announcing it haddecided not to pursue LSE. Four other situations, including the recommendationof LSE's board, could also allow ICE to make a bid.

ButSprecher waved off those circumstances, saying they apply to any U.K. takeoverprocess and do not provide any insight into ICE's next steps.