Presumed LME bidder ICE ready for acquisitions
May 02, 2012 | 05:14 PM
| Thorsten Schier
Tags
IntercontinentalExchange,
ICE,
London Metal Exchange,
LME,
Jeffrey Sprecher,
Scott Hill,
Thorsten Schier
NEW YORK — IntercontinentalExchange Inc. (ICE), which is said to be in the hunt to buy the London Metal Exchange, is well positioned to make acquisitions due to its strong balance sheet, according to its top executives.
"We ended the quarter with nearly $1 billion in cash, no net debt, low leverage and access to a committed line of credit of $1.8 billion. As a result of our strong balance sheet and cash generation, we are well positioned to continue to invest in key strategic growth initiatives and expand our existing....
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