According to reports in the European media this week, Deutsche Börse's chief executive, Werner Seifert has refused to move a shareholder vote on replacing the exchange's supervisory board forward from the planned AGM on May 25, despite repeated calls from shareholders.
Earlier this year, The Children's Investment Fund Management (TCI) threatened the bourse with legal action if it did not agree to hold a vote on its bid to buy the London Stock Exchange.
TCI, which owns more than 5% of Deutsche Börse, has now been joined in opposition of the deal by New York-based hedge fund, Atticus, which reportedly holds 12% of the Börse's shares.
According to the Guardian, speaking on Tuesday, Mr Seifert argued that under German shareholder laws, the exchange is not obliged to hold an extraordinary general meeting in mid-April, as demanded by the funds.
He announced that there were no plans to increase the £1.3 billion offer made on the LSE, and announced that Deutsche Börse would be keeping its options open, refusing to rule out the possibility of a hostile takeover, merger discussions, or simply walking away from the matter.
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