LSE to hold Deutsche Börse merger vote in July

Decision to be take after Brexit vote

London Stock Exchange Group will hold its shareholder meeting on the proposed $30 billion merger with Deutsche Börse in July, the British firm said in an update on Wednesday.

London Stock Exchange Group will hold its shareholder meeting on the proposed $30 billion merger with Deutsche Börse in July, the British firm said in an update on Wednesday.

 

London Stock Exchange Group will hold its shareholder meeting on the proposed $30 billion merger with Deutsche Börse in July, the British firm said in an update on Wednesday.

Both exchanges “continue to make good progress with the preparation of the relevant documentation for their shareholders in relation to the recommended all-share merger,” LSE and Deutshe Börse said in a joint statement.

It was reported last week that the two exchanges would let shareholders decide on their proposed $30 billion merger after Britain’s June 23rd referendum on European Union membership, according to three sources.

The German exchange would not hold a meeting but open a tender offer period once a full set of documents have been filed with regulators, during which shareholders are given a deadline to back or reject the deal.

The end of the acceptance period for the tender offer to Deutsche Börse shareholders will be in July, the companies said.