London Stock Exchange

ICE backs away from bid for London Stock Exchange

Intercontinental Exchange has jettisoned plans to acquire the London Stock Exchange.

Since the owner of the New York Stock Exchange first revealed two months ago that it was pursuing a buyout, German stock exchange operator Deutsche Boerse and the London Stock Exchange announced a $30 billion merger. ICE said Wednesday that it didn't receive enough engagement from the London Stock Exchange to determine if the deal would make sense.

Also on Wednesday, Intercontinental Exchange Inc. reported better-than-expected earnings for its first quarter and said it would pay its dividend next month.

The Atlanta company posted a profit of $369 million, or $3.08 per share.