(MENAFN- AFP) The Frankfurt stock exchange Deutsche Boerse on Tuesday said its shareholders had backed a planned merger with the London Stock Exchange (LSE).
Earlier this month Deutsche Boerse lowered the threshold for shareholder support needed for the tie-up to 60 percent from 75 percent, removing a potential spanner in the works for the deal following Britain's vote to leave the European Union.
The 60-percent level was breached a few hours before the midnight deadline, Deutsche Boerse said in a statement.
LSE shareholders already voted overwhelmingly for the tie-up this month.
Under the agreed terms, Deutsche Boerse shareholders will end up with 54.4 percent of the new holding company's capital, and LSE shareholders with 45.6 percent.
A possible headache for the two companies' merger plans is the British vote on June 23 to quit the European Union.
Already, media reports have suggested that the headquarters of the merged company may no longer be based in London, as originally planned.
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