Risk.net

DTCC faces rival bid for LCH.Clearnet

The Depository Trust & Clearing Corporation has pushed back the deadline for its takeover talks with LCH.Clearnet, in the face of a rival bid from a group of major dealers. The two sides entered into a non-binding merger agreement on October 22 last year, under which DTCC offered to pay LCH.Clearnet shareholders around $12.50 a share. However, the March 15 deadline for concluding discussions on the merger was put back until March 31, an official at the DTCC said. BNP Paribas, Deutsche Bank,