The London Stock Exchange announced last week that it had received a proposal from Macquarie Bank Limited proposing a cash offer to acquire it for 580 pence per share.
However, the LSE's board stated that the exchange "rejects outright this derisory proposal which fundamentally undervalues the Company and lacks any strategic or commercial credibility".
The LSE is reportedly seeking a higher price because of its earnings potential, and has already rejected an offer from its German counterpart, Deutsche Boerse.
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