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Euronext N.V. (“Euronext”) announced on 20th December, 2004 that it was considering making a cash offer for London Stock Exchange plc (“LSE”) and seeking a recommendation from the LSE Board. Since that date, there has been a series of productive meetings and discussions with the Board, the management of, and advisers to, LSE. During these meetings, Euronext and LSE presented their respective views on their businesses, discussed the key aspects of a combination of these two important exchange groups and shared views on the future growth and vision of a new, combined group. Euronext publicly reconfirmed its interest in a possible cash offer on 27thJanuary, 2005 and submitted a filing to the Office of Fair Trading on 28th January, 2005.
Whilst its discussions with LSE are continuing, following the announcement on 27th January, 2005 by Deutsche Börse AG of a proposed preconditional unsolicited cash offer for LSE, which has been rejected by the Board of LSE, Euronext, with the authorisation of its Supervisory Board, today publishes key aspects of its potential proposal to combine the businesses of Euronext and LSE in order to facilitate detailed discussions with shareholders, users and regulators. Following such discussions and prior to making any offer, Euronext reserves the right to amend any or all elements of the potential proposals set out herein.
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