By Andrea Hotter Of DOW JONES NEWSWIRES LONDON -(Dow Jones)- IntercontinentalExchange Inc. (ICE) and Hong Kong Exchanges and Clearing Ltd. (0388.HK) have been asked to resubmit their proposals to buy the London Metal Exchange on June 7, a senior LME executive told Dow Jones Newswires Friday. "Following presentations made by the two remaining bidders at the board meeting of May 31, the two bidders have been asked to resubmit their proposals on June 7," said LME head of business development Chris Evans, without naming the bidders. "We then anticipate a further period of consideration by the board," he said. Both ICE and Hong Kong Exchanges are vying to be chosen as the preferred bidder for LME. Once the decision is made, shareholders in the LME, who are also its members, will be canvassed over the next several weeks until voting takes place at an Extraordinary General Meeting, the date of which isn't yet known. -By Andrea Hotter, Dow Jones Newswires; +44 (0)20 7842 9413; andrea.hotter@dowjones.com
