Sunday 26 February 2017

LSE to hold Deutsche Boerse merger vote in July

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.

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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