Frankfurt-based firm Deutsche Börse is inching towards closing its €3.9bn takeover of the Danish investment management software company SimCorp.
The recently published final tender results for the all-cash transaction reveals that the German organisation now holds 93.97% of the share capital and voting rights of the acquired company, excluding treasury shares but including open market purchases.
Recently, it was revealed that Deutsche Börse had received final regulatory approval for the takeover of the Copenhagen company, however, now it seems to be on course to complete the deal by the end of the month.
The acquisition is set to close on September 29 – which is in line with previous reports – following on from which, the German firm will seek to buy-out any remaining minority shareholders, thus taking complete control of SimCorp.
The tender results also confirm Deutsche Börse’s intention to delist SimCorp from the Copenhagen Stock Exchange, Nasdaq Copenhagen, and will remove its shares from official listing.
The deal will allow Deutsche Börse to merge SimCorp’s data with their own investment management solution, which will be created as a result of consolidating its financial intelligence subsidiary Qontigo and its governance, ESG data and analytics subsidiary Institutional Shareholder Services (ISS).
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