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Deutsche Boerse gets more than 90% of SimCorp shares in takeover deal

Reuters
·1-min read
FILE PHOTO: The German share price index (DAX) board is seen at the end of a trading day at the German stock exchange (Deutsche Boerse) in Frankfurt

FRANKFURT (Reuters) - Deutsche Boerse said on Wednesday that it had received more than 90% of shares in its takeover offer for Danish investment management software company SimCorp, a significant step in the completion of the 3.9 billion euro deal.

The figure is preliminary and it expects to publish a final number by the end of the week, allowing the deal to close in the next five business days.

Management at Deutsche Boerse has touted the acquisition announced in April as key to its future strategy, combining SimCorp's investment management software with Deutsche Boerse's data.

"The chemistry is right," Deutsche Boerse Chief Executive Officer Theodor Weimer told its investors in May.

(Reporting by Tom Sims, Editing by Friederike Heine)