Deutsche Börse May Reduce LSE Shareholder Approval Theshold Ahead of Merger
Posted: Sun Jul 10, 2016 8:36 am
Deutsche Börse has announced that it may reduce the threshold for shareholder approval of its London Stock Exchange Group acquisition in order to accommodate index funds.
The public exchange offer is subject to a minimum acceptance threshold of 75% of the shares in Deutsche Börse.
Index Funds
Index funds, which represent up to 15% of Deutsche Börse shares, are only technically capable of tendering their Deutsche Börse shares after the minimum acceptance threshold has been reached and once the untendered shares are replaced by the tendered shares in the respective index.
For the DAX as the most relevant index the replacement takes place ... (read more)