The London Stock Exchange Group and Deutsche Börse said on Wednesday that they had agreed to merge in an all-stock deal that they hope will create a European champion in a rapidly consolidating industry.
The transaction would unite two of the biggest European exchange operators and would create one better able to compete globally for stock listings, as a provider of clearing services and as a purveyor of market data.
It would be worth about $30 billion, based on the market capitalization of the two exchange operators.
“The combined group will be well placed to adapt to industry and regulatory dynamics and able to compete globally,” Carsten Kengeter, the Deutsche Börse chief executive, said on a conference call with analysts on Wednesday.
“The combination enables Europe to maintain and enhance its capital markets infrastructure long term, invest in state-of-the-art infrastructure and build global connectivity,” added Mr. Kengeter, who will be chief executive of the combined exchange.
Full Content: The Wall Street Journal