Stock exchanges planning to cut costs by £354m a year over three yearsDeutsche Börse and the London Stock Exchange said they expected to cut costs by €450m (£354m) a year as they sought to press on with their agreed £20bn deal and ward off a potential rival tender from the US.
The exchanges set out the terms and benefits of what they described as a merger of equals. As expected, Deutsche Börse shareholders will own 54.4% of the modern company with LSE shareholders owning the remainder.
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Source: theguardian.com