Key terms of merger that might never happen

The London Stock Exchange Group (LSEG) and Deutsche Börse have issued details of further key terms agreed in relation to their proposed potential merger. The combined group wil be a UK plc domiciled in London and LSEG in London and Deutsche Börse in Frankfurt will become intermediate subsidiaries of the Combined Group. The combined group will have headquarters in London and Frankfurt;

and seek a premium listing on the London Stock Exchange and prime standard listing on the Frankfurt Stock Exchange.

It will have a balanced governance structure with equal board representation from LSEG and Deutsche Börse to include Donald Brydon as chairman, Joachim Faber as deputy chairman and senior independent director, Carsten Kengeter as CEO and executive director and David Warren as CFO and executive director.

In addition, a joint committee has been set up to advise on the implications of the vote by the United Kingdom electorate on the European Union membership of the United Kingdom.