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Mergers, Acquisitions, Alliances and Synergies Case Study
Case Title:
Deutsche Borse's Bid for London Stock Exchange : What's the Strategic Fit?
Publication Year : 2005
Authors: Shalini, Sumit Kumar Chaudhuri
Industry: Stock Exchanges
Region: Germany
Case Code: MAA0039
Teaching Note: Not Available
Structured Assignment: Not Available
OR
Abstract:
Deutsche Borse had made attempts to form an alliance with London Stock Exchange (LSE), the biggest stock exchange in Europe, since 1999. After a failed attempt of merger in 2000, Werner Seifert, the CEO (Chief Executive Officer) of Deutsche Borse has been making attempts again since late 2004 to strike a deal with LSE to reap synergistic benefits that were expected to accrue from decreased operational costs and increased profits. Although Deutsche Borse’s bid of 530p (pence) per share was rejected by LSE, Seifert came up with his next bid that offered a better deal to LSE.
Pedagogical Objectives:
- To highlight the challenges faced by Deutsche Borse in its attempt to strike a deal with LSE
- To discuss the strategic fit between Deutsche Borse and LSE and the synergistic advantages that are expected to accrue to the combined entity.
Keywords : Deutsche Borse;Mergers,Acquisitions,Alliances Case Study; London Stock Exchange (LSE); Consolidation in European stock exchange market; Merger of stock exchanges; Strategic alliance; Euronext; Strategic fit; Synergy; Deutsche Borse-LSE deal; Europe’s stock exchanges
