Some of Deutsche Boerse AG’s biggest shareholders, who have been exerting pressure on the German stock-market operator to reject its bid to acquire the London Stock Exchange, made their attacks on the company more persevering and urged Deutsche Boerse’s chairman to disclose how many shareholders are against the proposed merger.

They also promised to vote against the re-election of the German firm’s supervisory board.
Christopher Hohn, the managing partner of Children’s Investment Fund, a London-based hedge fund, has been criticizing the intention of Deutsche Boerse’s to acquire LSE since January, when he said Deutsche Boerse should make any deal subject to a shareholder vote, and if it doesn’t, he planned to use his right as a holder of more than 5% of Deutsche Boerse’s shares to seek a vote to remove the Frankfurt-based company’s supervisory board, according to the Wall Street Journal.

Atticus Capital, one more of Deutsche’s big shareholders, opposes the board’s intention to pay $2.65 billion (€2.03 billion) for the London Stock Exchange. Atticus Capital now holds over 5% of Deutsche Boerse.
Both funds, among others critics, say they oppose the deal as they the price Deutsche Boerse would be willing to pay is too high. They targeted Chairman Rolf Breuer and Chief Executive Werner Seifert with their criticism for ignoring their views.

Deutsche Boerse has deflected the hedge-fund managers’ criticisms and strengthened its efforts to convince investors of the advantages of the proposed deal. The hedge-fund managers’ endeavors to force Deutsche Boerse to make the deal subject to a shareholder vote have not been successful.

Deutsche Boerse has promised to consider Mr. Hohn’s request for a vote to remove the firm’s supervisory board, but only at or after the German firm’s scheduled annual general shareholder meeting in May.