NYSE Parent Decides Against Making Bid For London Stock Exchange

Intercontinental Exchange Inc. said Wednesday it has "no current intention" to make a buyout bid for the London Stock Exchange Group. The parent of the New York Stock Exchange had previously said on March 1 that it was considering making an offer for LSEG. The company said it made its decision not to pursue an offer after due diligence determined there was "insufficient engagement" to confirm the potential market and shareholder benefits of a merger. The stock, which was still inactive in premarket trade, has dropped 6% year to date, while the S&P 500 has gained 1%.

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