Deutsche Boerse AG, the exchange holding company that is aggressively trying to push through European hurdles and win approval for its merger with the New York Stock Exchange, offered further concessions to authorities this morning.
A spokesperson for Deutsche Borse confirmed to Business Insider that it has offered a new legally binding agreement to protect workers at its current locations in Frankfurt and Eschborn, Germany.
“Against the backdrop of the planned merger the main aspects are the commitment to make investments of 300 million euros over a course of three years, no forced leavings for a minimum of two years and the offer to enlarge the location to be the operations hub for the whole of Europe,” the company said in a statement.
Deutsche Boerse announced earlier that Frankfurt and Eschborn would be main locations for its derivative, market data, and custody and settlement units.
The closing of the Deutsche Boerse-NYSE deal has eluded executives for some time, with recent reports casting the merger in doubt after European regulators refused to christen the deal. Authorities have called for greater concessions, including the sale of the company’s derivative business.
American regulators have already granted approval for the deal, after the Justice Department said the German company would need to divest its holdings in Direct Edge.