The London Stock Exchange has included a clause in the terms of its £250m (€293m) bond issue that protects investors from losses in the event the company is acquired, highlighting the exchange is still perceived to be at risk of a takeover.

The LSE has defended itself from approaches from Euronext, Deutsche Börse and Nasdaq in the last five years alone, but the inclusion of a so-called change-of-control clause in the new bond suggests investors' believe the risk of fresh approach is likely.