London Capital Group Holdings Share News (LCG)

Spread-betting firm Spreadex is mulling its next steps after embattled rival London Capital Group rebuffed its £16.7m takeover bid.Spreadex said it was "considering its options" after LCG, which owns Capital Spreads, turned down its 30p per share offer.The suitor said no discussions were taking place, adding: "Spreadex is considering its options. However, there can be no certainty that any firm offer will be made."In a statement on Wednesday afternoon, Spreadex also said any firm offer it may make would depend on an alternative proposed financing not proceeding.It emerged earlier on Wednesday that LCG had received a number of offers which, according to media speculation, would benefit shareholders more than a proposed financing that is to be voted on at emergency shareholder meeting on Thursday.LCG has proposed raising up to £17.5m in a deal that will see financier Charles-Henri Sabet become Executive Chairman as his GLIO Holdings vehicle subscribes for convertible loan notes of up to £15m and up to 75m warrants.But Spreadbet Magazine, a title managed by editor Zak Mir and former T1ps.com writer Richard Gill, alleged the "take-under" by Sabet had been trumped by two approaches that "look to be materially more beneficial for current shareholders than the current proposed structure" but that LCG's board "appear not to be disclosing these offers to shareholders".The magazine, whose contributor Richard Jennings and clients of his Titan Investment Partners hold positions in LCG, said it spoke to the company's nominated adviser to ask why it had not been more overt in disclosing the approaches to the market, but had been rebuffed.But LCG pointed out in a statement on Wednesday that it has previously disclosed its engagement "from time to time" in "discussions with third parties - including competitors - with regard to possible mergers and acquisitions transactions". LCG insisted it had "no current intention to pursue any such mergers or acquisitions or similar transactions".Shares in LCG leapt 31.76% to 28p on the announcement from Spreadex late on Wednesday.OH