IntercontinentalExchange (ICE) is considering launching a counter-bid for the London Stock Exchange Group (LSEG).
According to a statement from ICE, it confirmed that it is mulling an offer for the group. However no decision from ICE has been made to pursue an offer.
The statement also said ICE must announce its intentions to make an offer no later than 5pm on March 29.
Morgan Stanley and law firm Moelis & Company will act as the exclusive financial advisers to ICE on the possible counter bid.
Last week Frankfurt based Deutsche Boerse and the LSEG confirmed they are in talks to merge, a deal which could amount to £20 billion.
The possible counter bid for the LSEG would put a major spanner in the works for Deutsche Boerse, and if successful, would make ICE the most dominant force in the UK derivatives market after acquiring London-based LIFFE in 2013.