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UK: Shareholder adviser ISS backs LSE-Deutsche Boerse deal

By  |  June 22, 2016

Shareholder advisory firm Institutional Shareholder Services (ISS) recommended shareholders of London Stock Exchange Group support the company’s proposed $30 billion merger with German rival Deutsche Boerse.

“Support for the transaction is warranted as the rationale to merge to create the largest exchange group by income (pro-forma accounts) is compelling,” ISS said on Wednesday.

The advisory firm also said the deal offered LSE’s shareholders an about 8 percent premium over the company’s stand-alone value.

The British bourse operator agreed in March to merge with Deutsche Boerse in an all-share deal.

LSE’s shareholders are set to vote on the deal on July 4, days after Britain’s June 23 referendum on membership of the European Union.

Wall Street Journal reported on Wednesday that investor advisory group Glass Lewis had also recommended LSE’s shareholders vote in favor of the deal.

Full Content: The Wall Street Journal

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