London Stock Exchange shareholders vote to approve Deutsche Boerse merger deal
Shareholders of the London Stock Exchange have given their backing to the £21bn Deutsche Boerse merger.
Some 99.89 per cent of those who voted approved the deal, the company announced on Monday.
Attention will now turn to Frankfurt, where shareholders in the German exchange have until 12 July to approve the deal.
After this, the deal faces several regulatory hurdles before it can be completed.
Read more: LSE shareholders set to back £21bn merger – but regulatory hurdles await
Analysts covering the deal believed obtaining LSE shareholder approval was a smaller obstacle than winning Deutsche Boerse investor and regulatory support.
“It will be more of a hurdle on the Deutsche Boerse shareholder side,” Exane BNP Paribas analyst Arnaud Giblat told City PM
“But we still think there is a risk of political interference. And we still see the competition commission as the most significant hurdle.”
Read more: Analysts doubt stock exchange merger will go through after Brexit vote
Donald Brydon, chairman of the LSE, said today: "I would like to thank our shareholders for their strong support for the merger."
Joachim Faber, chairman of Deutsche Boerse, said: "I strongly endorse the statement of London Stock Exchange Group following their General Meeting today and continue to recommend the transaction to the shareholders of Deutsche Boerse."