Fresh blow for D Borse bid LONDON 3RD EDITION

The LSE said it still believed it had two potential bidders - Deutsche Borse and Paris-based Euronext. A withdrawal by Deutsche Borse would pave the way for Euronext to price its own bid well below the 620p-640p that some analysts had speculated it would be forced to pay. Shares in Deutsche Borse cl...

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Bibliographic Details
Published inThe Financial times (London ed.)
Main Author NORMA COHEN and PATRICK JENKINS
Format Newspaper Article
LanguageEnglish
Published London (UK) The Financial Times Limited 26.02.2005
Subjects
Executives
Shareholder meetings
Shareholder voting
Stockholders
LONDON and FRANKFURT
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Summary:The LSE said it still believed it had two potential bidders - Deutsche Borse and Paris-based Euronext. A withdrawal by Deutsche Borse would pave the way for Euronext to price its own bid well below the 620p-640p that some analysts had speculated it would be forced to pay. Shares in Deutsche Borse closed nearly Euros 2 higher at Euros 55.80, their highest level in over a year, amid speculation that its shareholders will be able to force it to hand back cash as an alternative to a bid. Deutsche Borse currently has about Euros 700m in cash. There appears little Deutsche Borse can do to win over the rebels, although executives were last night hoping most of the rebels would choose to capitalise on the 27 per cent increase in Deutsche Borse's share price over the past two months and sell out. Rebels under fire, Page M2
ISSN:0307-1766