The London Stock Exchange, target of takeover bids by Deutsche Börse and Euronext, might instead be looking to make acquisitions of its own.

At a shareholder meeting on Wednesday, the chairman of the LSE, Chris Gibson-Smith, said that the LSE could make an acquisition if it would be of value to shareholders, but that the exchange might one day surprise everyone.

He would not elaborate further.

He did say that the exchange was keeping “an open mind” about a deal with the groups that had made bids for the LSE, but that any deal would have to be of benefit to both the LSE and its shareholders.

Meanwhile, the LSE reported that in the quarter ending June 30 had upped turnover by 13 percent to £67.7 million.