The London Stock Exchange Group (LSEG) and Deutsche Börse have published several shareholder documents for review ahead of the exchanges’ respective shareholder meetings on 4 July.
The exchanges released the scheme and exchange offer documents, as well as the HoldCo prospectus to both exchanges’ shareholders.
In a joint statement, the exchanges said the merger will benefit all of their clients and shareholders and will “enhance the global footprint and create a platform for future growth in Asia and North America”.
The merger will be implemented through a new UK TopCo holding company that has been incorporated in the UK. It will be resident solely in the UK for tax purposes and with a board of directors constituted in accordance with the UK corporate governance code.
The statement clarified that the outcome of the UK’s referendum on its membership of the EU, set for 23 June, is not a condition for the merger.
Under the terms of the merger, LSEG shareholders will be entitled to receive 0.4421 HoldCo shares in exchange for each LSEG share, while Deutsche Börse shareholders will be entitled to receive one HoldCo share in exchange for each Deutsche Börse share.
Deutsche Börse shareholders can tender their shares from 6 June to 12 July 2016.
The documents outline several opportunities for growth and revenue synergies, along with cost saving possibilities.
