Newspaper article International New York Times

Deutsche Borse Lowers Threshold for L.S.E. Deal

Newspaper article International New York Times

Deutsche Borse Lowers Threshold for L.S.E. Deal

Article excerpt

At least 60 percent of Deutsche Borse's outstanding shares must be tendered for the deal to be successful, down from 75 percent.

The London Stock Exchange Group and the Deutsche Borse said on Monday that they would lower the acceptance threshold required from shareholders in the German exchange operator for their merger to proceed.

The exchanges also said they would extend by two weeks the period for investors in Deutsche Borse to accept the offer to exchange their stock for shares in a new holding company for the combined entity. The offer period will now expire on July 26, after it was originally set to expire on Tuesday.

Last week, shareholders in the London exchange overwhelmingly approved the all-stock deal, which the stock exchange operators hope will create a European champion in the industry. …

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