It's all-systems-go for the London Stock Exchange's agreed takeover of clearing house, LCH.Clearnet, as the bourse operator confirmed it has received acceptances of its offer from holders representing more than half of Clearnet's shares.
The London Stock Exchange (LSE) has received acceptance in respect of more than 60% of the existing issued ordinary share capital of LCH.Clearnet.
In accordance with the terms of the offer, certain accepting LCH.Clearnet shareholders will have their acceptances scaled back so that the LSE will hold no more than 60% of the existing issued ordinary share capital of LCH.Clearnet.
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Completion of the merger ix expected in the fourth quarter of 2012.
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