Deutsche Boerse AG (DB1.XE, DBOEF) and NYSE Euronext (NYX) won't push for a mandatory buy-out of shares in the German exchange operator that have yet to be tendered in favor of the companies' planned merger.

Executives for the exchange groups, which sealed an $18.4 billion combination in February, said the planned parent company over both groups' exchanges wouldn't push for what is known as a squeeze out under Germany securities law or look to implement such a policy. More than 95% of Deutsche Boerse shares already have been tendered in favor of the deal.

"Effecting a squeeze out is not at all necessary to achieve our financial and synergy goals," said Gregor Pottmeyer, chief financial officer of Deutsche Boerse, in a statement Thursday.

Pottmeyer said investors in Deutsche Boerse that have yet to place their shares in favor of the deal--which secured approval from both companies' stockholders in July--can do so under the previous terms until Nov. 4. The offer carries a special dividend payout of 2 euros per share in the combined exchange company, with one Deutsche Boerse share translating to one share in the as-yet unnamed operator.

Since the closure of the official tender period on Aug. 1, it had been up in the air whether Deutsche Boerse would conduct such a mandatory buy-out of minority shareholders under German law governing takeovers and stock exchanges. Mounting the 95% equity-participation hurdle enables a shareholder of a stock corporation to make such a move, but such action is the decision of the planned parent.

The companies aim to close their deal by the end of the year. The proposal now is under examination by a plethora of market and competition authorities, with an extensive review by the European Union set to wrap up in mid-December.

-By Jacob Bunge, Dow Jones Newswires; 312-750-4117; jacob.bunge@dowjones.com

--Ulrike Dauer in Frankfurt contributed to this article.

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