LSE shareholders to vote on Deutsche Börse merger in July
Following the announcement of merger plans in March, Deutsche Börse and London Stock Exchange (LSE) have announced that LSE shareholders will vote on the merger in July, after the result of the British referendum to exit the EU.
Both parties confirmed that shareholder documents will be published in June, while the end of the acceptance period for the securities exchange offer to Deutsche Börse shareholders will be in July.
Under the current terms of the agreement, LSE shareholders will hold 45.6 percent of the group, while Deutsche Börse shareholders will hold 54.4 percent.
The agreement is currently subject to approval by the Federal Financial Supervisory Authority (BaFin) in Germany, the United Kingdom Listing Authority (UKLA), the board of LSEG and the management board of Deutsche Börse.
However, the planned merger has been met with criticism among politicians of the Federal state of Hesse, where Deutsche Börse is currently based. The federal government of Hesse will have a say in the final merger decision.