Newspaper article The Evening Standard (London, England)

LSE and Deutsche Deal Now in Doubt, Says M&A Veteran

Newspaper article The Evening Standard (London, England)

LSE and Deutsche Deal Now in Doubt, Says M&A Veteran

Article excerpt

Byline: Michael Bow

PRESSURE mounted on the London Stock Exchange-Deutsche Borse deal today after a leading old hand at M&A warned that both sides should reconsider the deal in light of the UK's vote to exit the EU.

Academic John Colley, who once battled a hostile takeover of his former employer FTSE 100 plasterboard giant BPB said both boards were in "too much of a hurry" to get the deal done.

He said they should consider waiting until the "smoke clears" over Brexit.

"The rationale for the merger has undoubtedly changed and perhaps the boards of LSE and Deutsche Borse would do well to reconsider the reasons for the deal," said Colley, who now teaches at Warwick Business School "Investors vote shortly on the merger and it must be anything but clear what they are voting for."

LSE shareholders are due to vote on Monday about whether to approve the merger, which will see LSE investors own 45.6% and Deutsche 54.4% of a combined group based in London. …

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