LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Further to LeapRate’s report about London Stock Exchange Group Plc (LON:LSE) and Deutsche Boerse AG (ETR:DB1) discussing a merger, the two companies have today provided more details about the potential deal.
A combined group will be formed as a result of the merger. It will be domiciled in London and will have LSEG in London and Deutsche Boerse in Frankfurt as its intermediate subsidiaries.
The Combined Group will seek a premium listing on the London Stock Exchange and prime standard listing on the Frankfurt Stock Exchange.
At completion, Donald Brydon, Chairman of LSEG, would become Chairman of the Combined Group whereas Joachim Faber, Chairman of Deutsche Boerse, would become Deputy Chairman and Senior Independent Director of the Combined Group. Carsten Kengeter, CEO of Deutsche Boerse, would assume the role of CEO and executive director of the Combined Group while David Warren, CFO of LSEG, would become CFO and executive director of the Combined Group.
On completion of the transaction, Xavier Rolet will step down from his role as CEO of LSEG.
In addition, the companies have set up a Referendum Committee to advise on the implications of the vote by the United Kingdom electorate on the European Union membership of the United Kingdom. LSEG and Deutsche Boerse note that the outcome of the Referendum would not be a condition of the Potential Merger.
The full announcement from Deutsche Boerse can be viewed by clicking here.