London Stock Exchange Group PLC (LON:LSE) and Deutsche Boerse AG (ETR:DB1) are to press ahead with their US$30bln merger despite the result of yesterday’s EU referendum.
The stock exchanges said the leave victory did not change the strategic reasoning behind the proposed deal and both boards urged their respective shareholders to back the merger.
“We are convinced that the importance of the proposed combination of Deutsche Boerse and LSEG has increased even further for our customers,” said Deutsche Boerse chairman Joachim Faber.
“[The merger] will provide benefits for them as well as our shareholders and other stakeholders.”
LSE shareholders are due to vote on the merger at a general meeting on 4 July, although Deutsche Boerse shareholders may not decide until 12 July.
Shares in LSE were down 282p, or 10%, to 2453p, while shares in Deutsche Boerse were down €5.65, or 7%, to €76.