London Stock Exchange Group plc (LSE.L) Tuesday said it received acceptances in respect of over 55.5 percent of the existing share capital of LCH.Clearnet for the revised recommended cash offer for the company, thus satisfying the acceptance condition. At completion, along with the current 2.3 percent holding, shareholding in LCH.Clearnet by LSEG is expected to increase to 57.8 per cent. The transaction is expected to be completed in the second quarter of 2013.
Futher, certain accepting LCH.Clearnet shareholders will have their acceptances scaled back so that LSEG will hold no more than 57.8 percent of the share capital of LCH.Clearnet, added LSEG.
London Stock Exchange Group also said the revised offer is being extended to provide more time for the remaining LCH.Clearnet shareholders to paparticipate in it and will remain open for further acceptances until 6.00 p.m., London time, on April 5.
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