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UK: LSE and Deutsche Boerse to hold merger votes after UK’s EU poll

By  |  May 12, 2016

London Stock Exchange Group and Deutsche Boerse will let shareholders decide on their proposed $30 billion merger after Britain’s June referendum on European Union membership, three sources familiar with the matter said.

No final decision has yet been taken about the exact date of the shareholder votes, but both exchanges will give investors the opportunity to see the outcome of Britain’s June 23 poll before they decide on the proposed tie-up, one source said.

LSEG and Deutsche Boerse declined to comment on the dates for the votes on the merger, which are likely to be announced in late May or early June, another of the sources said.

Initially there were some expectations that LSEG would hold a shareholder meeting to approve the merger with Deutsche Boerse before the British referendum.

This would have forced US group Intercontinental Exchange to file any counterbid seven days before that meeting, with Britain’s future still very much in doubt.

For ICE, LSEG would be a more attractive target with Britain inside the EU.

Full Content: Reuters

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