The London Stock Exchange (LSE) has rejected a potential offer from Australia's Macquarie Bank as "derisory".
"The Board of London Stock Exchange rejects outright this derisory proposal which fundamentally undervalues the company and lacks any strategic or commercial credibility," the LSE said in a statement.
Macquarie said last night it could be prepared to offer 580 pence per share cash for the London Stock Exchange as it ponders whether to make a formal bid before a deadline next week.
Shares in the LSE closed at 612 pence yesterday, about 5 per cent above the possible offer price.
