What’s next?

It’s an open secret that the London Stock Exchange would have recommended a bid of 600p-a-share (£1.5bn) or more. But that only looked possible when there was a chance of an auction for Europe’s biggest cash equities market. Now Deutsche Boerse has withdrawn its 530p-a-share offer and that’s left one suitor, Euronext. With the auction dead, can Euronext now name its price? Not really. It may appear Euronext is in a comfortable position. But it is in a tight spot. The LSE is unlikely to recommen...