Deutsche Boerse wins 89 per cent shareholder acceptance for London Stock Exchange deal

 
William Turvill
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The London Stock Exchange and Deutsche Boerse agreed a £21bn merger in March (Source: Getty)

The final acceptance ratio from Deutsche Boerse shareholders for its merger with the London Stock Exchange (LSE) was 89.04 per cent, the company has revealed.

The German exchange was forced to lower the acceptance ratio to 60 per cent and extend the deadline for investors wishing to tender their shares in support of the deal on 11 July.

Read more: Deutsche Boerse turns to regulation after cementing support for LSE deal

Deutsche Boerse reported that the 60 per cent mark had been passed on 26 July. Then, with the necessary approval obtained, other investors had until 12 August to tender their shares also.

On the other side of the deal, LSE shareholders waved through the deal at an extraordinary general meeting on 4 July, with 99.89 per cent approval.

Deutsche Boerse chief executive Carsten Kengeter, who would take on the same position across the combined group if the deal goes ahead, said: “I would like to thank our shareholders for their clear support of this merger.

Read more: More European opposition, this time from investors, to stock exchange deal

“We will now focus on achieving the necessary regulatory and anti-trust approvals. This merger will create a globally competitive market infrastructure group benefiting our customers, shareholders and the wider economy.”

Analysts believe obtaining regulatory approval for the deal has always been the biggest hurdle the LSE and Deutsche Boerse faces. The biggest challenges are expected to come from the EU Commission and the State of Hesse, the region of Germany where Deutsche Boerse is based.

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