Bloomberg opts out of US presidential bid

'EXTREMISM ON THE MARCH'

Bloomberg also hit out at Clinton and her rival for the Democratic nomination, US Senator Bernie Sanders from Vermont, for criticizing free trade and the financial industry.

"Extremism is on the march, and unless we stop it, our problems at home and abroad will grow worse," he wrote.

Spokespeople for Trump and Cruz did not immediately respond to requests for comment about Bloomberg's criticism.

Bloomberg founded and is majority owner of Bloomberg L.P., a news and financial information provider that competes with Thomson Reuters Corp.

The fear of a general election contest between Trump and Sanders, had driven Bloomberg to begin seriously exploring an independent run, a senior adviser said on condition of anonymity.

But with Clinton pulling away from Sanders in the Democratic race, Bloomberg concluded the path to victory and the rationale for running were gone, the aide said.

Clinton reacted to the news with polite praise, saying she had the "greatest respect" for Bloomberg. "He has to make his own decisions, but I look forward to continuing to work with him," she said on Fox News.

Sanders, when asked about Bloomberg's decision not to run, said election laws should be changed to make it easier for people who are not rich, or not friendly with rich people, to run for office.

"I think it's a bad idea for American democracy that the only people who feel in many ways they can run for president are people who have so much money," he said on Fox News.