The LSE and Deutsche Boerse have gone on a hiring spree for banks in a so-called "street sweep". The sweep is a classic M&A defense move to make it harder for rivals to bust up a merger.
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LSE, Deutsche Boerse Do ‘Street Sweep’ to Hinder Rivals
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The sweep is a classic M&A defense move from the British and German companies, to make it harder for U.S. rivals such as Intercontinental Exchange Inc. and CME Group Inc. to bust up their marriage, the people said. Atlanta-based ICE on Tuesday confirmed that it’s exploring an offer for the LSE, attempting to scuttle the U.K. company’s merger talks with Deutsche Boerse, which would create a dominant European stock exchange operator.
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