Business

Wednesday 28 September 2016

LSE to hold Deutsche Boerse merger vote in July

Published 18/05/2016 | 08:28

The London Stock Exchange
The London Stock Exchange

London Stock Exchange will hold its shareholder meeting on the proposed $30 billion merger with Deutsche Boerse in July, the British firm said in an update on Wednesday.

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Both exchanges "continue to make good progress with the preparation of the relevant documentation for their shareholders in relation to the recommended all-share merger," LSEG and Deutshe Boerse said in a joint statement.

Reuters reported last week that the two exchanges would let shareholders decide on their proposed $30 billion merger after Britain's June 23 referendum on European Union membership, according to three sources.

The German exchange would not hold a meeting but open a tender offer period once a full set of documents have been filed with regulators, during which shareholders are given a deadline to back or reject the deal.

The end of the acceptance period for the tender offer to Deutsche Boerse shareholders will be in July, the companies said.

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