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Merger   Septermber 28 is the deadline

Deutsche Boerse and LSE submit merger to EU for approval

Deutsche BoerseDeutsche Boerse and the London Stock Exchange Group (LSE) have submitted their $29 billion merger deal to European Union competition regulators.

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The deal, which will create the world's biggest exchange by revenue, is likely to face tough scrutiny because of the huge combined presence of the two companies in derivatives clearing.

The European Commission's antitrust department, whose approval is needed for the deal to proceed, has set a provisional deadline of September 28 for its preliminary review.

"We believe the merger will create significant value for our customers and shareholders, and facilitate economic growth through the creation of a global markets infrastructure group, anchored in Europe," the exchanges said.

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