LSE agrees merger deal with Deutsche Boerse

LSE chief exec to step down upon completion

The London Stock Exchange (LSE) has agreed a 'merger of equals' deal with German stock exchange Deutsche Boerse to create a stronger platform for securities trading.

According to Bloomberg, a merger would create a "titan of European trading" if it is approved by regulators. LSE will hold 45.6% of the enlarged, group while Deutsche Boerse will own the remaining 54.4%. The combined group will have a unitary board composed of equal numbers of LSE and Deutsche Boerse directors, and the two exchanges will continue to operate under their current brand names. Upon completion of the deal, LSE chief executive Xavier Rolet will step down. He will become an adviser to the chairman and deputy chairman to assist with a successful transition, which is expect...