Goldman Sachs, JPMorgan Raise London Metal Exchange Stakes
Goldman Sachs Group Inc. and JPMorgan Chase & Co. raised holdings in the past year in the London Metal Exchange, the 134-year old bourse that’s facing a possible takeover.Goldman increased its stake in LME Holdings Ltd. by 330,000 ordinary shares to 1.23 million shares as of Sept. 26, according to filings with the U.K.’s Companies House. JPMorgan owned 800,000 shares compared with 550,000 shares a year earlier, while ScotiaMocatta transferred 30,000 shares in the period to leave the company with no shares, the filings show.
The LME, which handles 80 percent of global trade in metals futures, told members last month that it would begin a process that may lead to “an acceptable offer for the company being received.”
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