A worker shelters from the rain as he passes the London Stock Exchange in the City of London. - Reuters filepic
FRANKFURT: Deutsche Boerse on Wednesday put the final tally of its shares tendered for its agreed $29 billion (£22.28 billion) merger with the London Stock Exchange at 89.04 percent of all shares.
The deal had already been approved by both LSE and Deutsche Boerse shareholders and is expected to be submitted to the EU competition authorities and other regulators for vetting in the coming days.
"We will now focus on achieving the necessary regulatory and anti-trust approvals," Chief Executive Carsten Kengeter said in a statement.
"This merger will create a globally competitive market infrastructure group benefiting our customers, shareholders and the wider economy," he added.
Shareholders had until last Friday to tender their shares. Deutsche Boerse had already passed the 75 percent acceptance level that clears the way for the planned holding company to establish a control and profit transfer agreement if it chooses to do so.
The final acceptance tally is not sufficient to permit a squeeze-out of remaining shareholders but Deutsche Boerse has not so far said it would pursue a squeeze-out.
Deutsche and the LSE expect the transaction to close in the first half of 2017. - Reuters
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