Deutsche Börse, LSE say merger will go ahead

The planned merger between Deutsche Börse AG and London Stock Exchange Group plc will go ahead despite the result of the British referendum on European Union membership, which resulted in a vote to leave.

LSEG shareholders will be asked to approve the Scheme of Arrangement and the Merger at the Court Meeting and LSEG General Meeting on July 4 2016 and should lodge their proxy forms by 10:00am (London time) and 10:15 am (London time) on July 2 for the Court Meeting and General Meeting, respectively. Deutsche Börse shareholders can tender their shares until the end of the exchange offer period on July 12 (24:00 hours CEST).

The Boards believe that the outcome of the Referendum does not impact the compelling strategic rationale of the Merger. The Boards further believe that the Combined Group’s capabilities, including global reach, distribution network across Europe, Asia and America, brand strength, financial resources and deep customer relationships, remain well positioned to serve global customers irrespective of the result of the Referendum.

As previously announced, LSEG, Deutsche Börse and Holdco are in ongoing and constructive dialogue with the appropriate UK and German governments and lead regulators, including the Bank of England, FCA, BaFin and the government of Hesse, to discuss the Merger, including the Referendum outcome, as well as all other relevant governments, regulators and authorities in France, Italy and other countries in which we operate. LSEG, Deutsche Börse and HoldCo will continue to seek merger control clearances in the European Union, the United States and Russia. For further detail, please refer to the Scheme Document and the HoldCo Prospectus published on June 1.