London Stock Exchange Group (LSEG) has been given the go-ahead to acquire a majority stake in European clearing house LCH.Clearnet.
The British multinational stock exchange said it received acceptances to buy 55.5% of the exiting issued ordinary share capital of LCH.Clearnet, which clears a broad range of asset classes including interest rate swaps, equity settlements, energy, bonds and repo, and futures.
The transaction will bring LSEG's holding up to 57.8% holding.
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While the acceptance condition has been satisfied, the revised offer remains subject to the terms and conditions laid out in the offer document.
The revised offer will be extended to allow more time for remaining LCH.Clearnet shareholders to participate and will remain open for further acceptances until April.
Completion is expected in the second quarter of 2013.
RD
