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Monday March 07, 01:38
Deutsche Boerse quits its bid for London Stock Exchange
(by Mark Riley)

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Deutsche Boerse quits its bid for London Stock Exchange Deutsche Boerse AG, leading operator of the Frankfurt stock exchange, announced Sunday it had withdrawn its $2.5 billion offer for London Stock Exchange PLC on non-stop grumbling from its shareholders.

Earlier it planned to acquire the top European stock exchange for $2.5 billion, but the shareholders opposed the plan thus forcing its withdrawal. The decision was made at an emergency management-board meeting on Sunday.

This is not the first attempt to merge the two biggest stock exchanges for Europe. The first one took place in 2000 but faced dearth of enthusiasm from the shareholders of LSE. The latest failure questions the company’s CEO Werner Seifert’s ability to run Deutsche Boerse in future.

London Stock Exchange may now be bought by Euronext NV or the Netherlands-based Euronext, the Wall Street Journal reported.


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