NYX Nyse Euronext

German exchange operator Deutsche Boerse AG (DB1.XE) Wednesday said 60.16% of its shares had been tendered by Wednesday afternoon as part of the proposed merger with rival exchange operator NYSE Euronext (NYX), according to the German Electronic Federal Gazette.

This figure is a significant increase from 34.55% late Tuesday.

Investors in Deutsche Boerse have until 2200 GMT Wednesday to tender shares in favor of the plan, but a formal announcement may come two days later, after votes sent by slower, traditional mail by some of the investors' custodian banks have been tabulated.

By 1400 GMT Wednesday, the offer had been accepted by holders of 117.31 million Deutsche Boerse shares, up from 67.38 million Tuesday.

Deutsche Boerse and NYSE Euronext need an acceptance rate of at least 75% for the deal to proceed.

Analysts have said they are confident the 75% threshold will be reached. Especially as institutional investors--the bulk among Deutsche Boerse shareholders--typically tender their shares close to the deadline.

Both companies created an additional incentive for tendering the shares last month by introducing a special dividend payment--of EUR2 a share--which shareholders only receive once their shares have been tendered.

-By Ulrike Dauer, Dow Jones Newswires; +49 69 29725 500; ulrike.dauer@dowjones.com

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