Standard Life: latest fund unhappy with Deutsche Börse

Standard Life became the latest fund to voice concerns about Deutsche Börse’s expected bid for the London Stock Exchange (LSE). Europe’s biggest mutual life assurer, Standard Life has asked Deutsche Börse to explain why a take-over of LSE would be good for its own shareholders, and is asking for a shareholder vote before a new offer is made.

There is a general concern among some fund managers that Deutsche Börse will over-value LSE in any subsequent bid, and other funds to voice objections have been The Childrens’ Investment Trust, Atticus, and the Harris Fund.

However, there remains some confusion as to what actual action can be taken. On the one hand, investors with over 5% stakes in the company can apparently call an extraordinary general meeting, but it remains uncertain as to whether the shares must be held for 3 months before calling the meeting, or before the meeting itself.

Story link: Standard Life: latest fund unhappy with Deutsche Börse