Separately, Kengeter’s comment on first-quarter earnings that the two exchanges had “received support from various stakeholders that the merger is the right step” was seen as constituting a statement of support under the United Kingdom takeover code.
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ICE’s announcement puts the brakes on a potential takeover battle in the exchanges sector, making it less likely that Deutsche Boerse will have to sweeten the terms of its all-share merger with LSE in order to win shareholder approval.
Last month ICE said that it was considering looking at a proposal, but noted at the time that “there can be no certainty that any offer will be made”.
LSE agreed a merger with Deutsche Boerse on 16 March, creating one of the world’s biggest exchange operators.
“Following due diligence on the information made available, ICE determined that there was insufficient engagement to confirm the potential market and shareholder benefits of a strategic combination”, ICE said in a statement.
For the current quarter, the 8 analysts offering adjusted EPS forecast have a consensus estimate of $3.65 a share, which would compare with $3.06 in the same quarter past year.
The Atlanta-based company said it had profit of $3.08 per share.
The stock increased 7.29% or $17.56 on May 4, hitting $258.54.
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At the moment 9 analysts are watching Intercontinental Exchange Inc. It has outperformed by 4.61% the S&P500. The company operates marketplaces for trading and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity derivatives, credit derivatives, bonds, and currencies.
