Baku – APA-Economics. Shareholders of the U.K.'s London Stock Exchange Group (LSE) voted 99.89 percent in favour of an all-share merger with Germany's Deutsche Boerse on Monday, CNBC reported.
The result indicates the vast majority of shareholders want the $27 billion (£20 billion) merger to proceed, despite the U.K.'s vote to leave the European Union (EU) last month.
his is the exchanges' third attempt to merge in 16 years. The bidding process saw Intercontinental Exchange (ICE), the owner of New York Stock Exchange, consider a bid.
Deutsche Boerse shareholders have until July 12 to vote on the deal.
Under the terms of the deal, LSE shareholders would own 45.6 percent of the new holding company, while Deutsche Boerse would own 54.4 percent. The firms would continue to hold headquarters in London and Frankfurt, LSE has said.
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