The ongoing reordering of the exchange industry is continuing, with a proposed European stock exchange merger one step closer to reality, and a U.S. deal now set to close.
The proposed merger of Deutsche Boerse Group and the London Stock Exchange Group (LSE) is inching closer to reality with the news that 89% of Deutsche Boerse shares have been tendered to the proposed deal. LSE shareholders have already approved the merger, but the transaction still has to be cleared by regulators and the EU Commission.
“I would like to thank our shareholders for their clear support of this merger,” says Carsten Kengeter, chief executive of Deutsche Boerse, in a statement. “We will now focus on achieving the necessary regulatory and anti-trust approvals. This merger will create a globally competitive market infrastructure group benefitting our customers, shareholders and the wider economy.”
Separately, Altanta-based Intercontinental Exchange Inc. (ICE) announced on Wednesday it expects to close its acquisition of S&P Global’s Securities Evaluations (SPSE) and Credit Market Analysis (CMA) divisions in October, after receiving clearance for the deal from the U.S. Department of Justice.
Once the transaction closes, the two units will become part of ICE Data Services. The deal, which was announced in March, aims to expand ICE’s reach in the data and valuation services market.
“We believe this transaction will support ICE Data Services’ strong commitment to drive innovation and best-in-class service to meet our customers’ growing data needs,” says Lynn Martin, president and chief operating officer of ICE Data Services, in a statement.