Deutsche Börse Group discusses acquisition of Allfunds
28 November 2025 Germany
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Deutsche Börse Group notes recent market speculation and confirms that it is in exclusive discussions with Allfunds Group regarding a possible acquisition of the entire issued and to be issued share capital of Allfunds (the non-binding proposal).
The board of directors of Allfunds has unanimously agreed to the company entering into exclusivity on the basis of the non-binding proposal put forward by Deutsche Börse.
The announcement of any binding offer relating to a possible acquisition is subject to the satisfaction or waiver of a number of customary pre-conditions, including, the satisfactory completion of customary due diligence in respect of Allfunds, the finalisation of definitive transaction documentation, and final approval of the Deutsche Börse and Allfunds Boards.
Deutsche Börse Group believes in the strong strategic, commercial and financial rationale of combining Allfunds with Deutsche Börse Group’s fund services business segment.
The firms say it would reduce fragmentation in the European investment fund industry and create a harmonised business with global reach, playing a key role in further facilitating the investment of retail savings into productive capital allocations such as investment funds.
The non-binding proposal currently under discussion implies a total consideration of €8.80 per Allfunds share, comprising €4.30 in cash and €4.30 in new Deutsche Börse Group shares based on Deutsche Börse Group’s undisturbed 10-day volume-weighted average price (VWAP), plus a permitted dividend in respect of financial year 2025 of €0.20 per Allfunds share.
It is expected that the combination of Deutsche Börse Group and Allfunds would be effected through a scheme of arrangement under Part 26 of the UK Companies Act 2006.
There can be no certainty that any transaction will proceed, nor as to the terms or timing of any such transaction.
Any transaction would be subject to regulatory approvals.
The firms say a further announcement will be made as and when appropriate.
The board of directors of Allfunds has unanimously agreed to the company entering into exclusivity on the basis of the non-binding proposal put forward by Deutsche Börse.
The announcement of any binding offer relating to a possible acquisition is subject to the satisfaction or waiver of a number of customary pre-conditions, including, the satisfactory completion of customary due diligence in respect of Allfunds, the finalisation of definitive transaction documentation, and final approval of the Deutsche Börse and Allfunds Boards.
Deutsche Börse Group believes in the strong strategic, commercial and financial rationale of combining Allfunds with Deutsche Börse Group’s fund services business segment.
The firms say it would reduce fragmentation in the European investment fund industry and create a harmonised business with global reach, playing a key role in further facilitating the investment of retail savings into productive capital allocations such as investment funds.
The non-binding proposal currently under discussion implies a total consideration of €8.80 per Allfunds share, comprising €4.30 in cash and €4.30 in new Deutsche Börse Group shares based on Deutsche Börse Group’s undisturbed 10-day volume-weighted average price (VWAP), plus a permitted dividend in respect of financial year 2025 of €0.20 per Allfunds share.
It is expected that the combination of Deutsche Börse Group and Allfunds would be effected through a scheme of arrangement under Part 26 of the UK Companies Act 2006.
There can be no certainty that any transaction will proceed, nor as to the terms or timing of any such transaction.
Any transaction would be subject to regulatory approvals.
The firms say a further announcement will be made as and when appropriate.
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