London Stock Exchange shareholders have voted overwhelmingly in favour of a merger with the Deutsche Börse despite fears the UK’s vote to leave the European Union might derail the planned deal.
At the LSE General Meeting held today shareholders voted 99.9 per cent in favour of the Deutsche Börse acquisition.
The €20bn (£16.7bn) merger is expected to complete in the first half of 2017.
In anticipation of a vote for Brexit, the two boards created a referendum committee, headed by Deutsche Börse chairman Joachim Faber “to consider and make non-binding recommendations to the boards on the ramifications of such a decision”.
In a statement today, LSE reiterated that the agreed transaction includes “all necessary mechanisms to respond to the outcome of the referendum”.
The combined group will maintain headquarters in both Frankfurt and London.
They have previously said the tie-up would generate €450m per year of cost savings three years after completion, with “significant opportunities for revenue synergies”.