Deutsche Börse on Thursday finally provided a detailed update on its £1.3 billion ($2.45 billion) offer for the London Stock Exchange that had been surrounded by mystery for a while.

Deutsche Börse CEO Werner Seifert touted the possibilities offered by the merger, saying it would immediately add to earnings thanks to cost synergies and growth prospects.

“It is Deutsche Börse’s intention to respect and build upon the valuable heritage of the London Stock Exchange and Deutsche Börse to the benefit of the stakeholders of both organisations, in particular customers and shareholders,” he said.

So far investors in Deutsche have shown signs of discontent, with some preferring to use €600 million of spare cash to repurchase stock.

Richard Lacaille, European chief investment officer of State Street Global Advisors, an institutional shareholder holding a 1.6% stake in Deutsche Börse, has expressed concerns about lack of transparency about the deal and scarcity of information shared by Deutchse Börse.

"The question in our minds that’s not been answered is over promises that have been made to the LSE, and promises made to customers, which will come at a price. If you are going to promise tariff reductions and jobs in London then that comes at a cost," Mr Lacaille said.

Deutsche Bank, one of Börse’s shareholders that owns an 8% stake in the exchange, calculated that the acquisition of LSE could offer better value to shareholders than a stock buyback. The bank has calculated that Deutsche could bid up to 670p a share, significantly above the current 530p a share offer and still justify the costs.