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Deutsche Boerse reaches 59.4 share approval of LSE deal ahead of deadline

Reuters - UK Focus

FRANKFURT, July 26 (Reuters) - Deutsche Boerse (LSE: 0H3T.L - news) has won further backing among its shareholders for the planned merger with the London Stock Exchange Group, with the German exchange operator reporting a 59.4 percent approval rate on Tuesday ahead of the 2200 GMT deadline.

Deutsche Boerse had asked its shareholders to back the $27 billion merger and earlier this month lowered the acceptance threshold to 60 percent from an earlier 75 percent of its shares. It (Other OTC: ITGL - news) also extended the acceptance period to July 26.

It is common for investors to tender their shares only shortly before the deadline is reached.

After shareholders' approval crossed the 50 percent threshold, many index funds were able to tender their shares, as it is common for their internal guidelines to demand they act only once that level has been reached. (Reporting by Arno Schuetze; Editing by Maria Sheahan)