The operator of the Frankfurt stock exchange announced that it had abandoned the planned acquisition after discussions between its management and shareholders, since the announcement of the contemplated transaction on January 27. The decision was also said to be affected by the refusal of the LSE board to recommend the Deutsche Boerse offer.
Having dropped its 530p per share bid, Deutsche Boerse said that it now look to return significant funds to shareholders in addition to the suggested dividend for the year 2004.
However, Werner Seifert, CEO of Deutsche Boerse, explained that the company was still in favor of consolidation of the European exchange landscape and that it could revive its interest in the LSE should Paris-based rival Euronext make a formal offer for the exchange.
