Deutsche Börse today announced an adjustment to the DAX index. As a result of the expected merger with NYSE Euronext, the Deutsche Börse AG shares (ISIN DE0005810055) in the DAX will be replaced with the tendered share class of Deutsche Börse AG (ISIN DE000A1KRND6). This change will be effective 20 July 2011 and reflects the decision of the Working Committee for Equity Indices published on 6 June 2011.
The Working Committee had decided to make this component change provided an acceptance threshold of at least 50 percent is reached by the end of the initial tender period, or at any time throughout the extended period, with two trading days notice. As this threshold has been reached, the larger share class will be included in the DAX in accordance with the index rulebook. In addition, the free-float factor of the new share will be adjusted from 95.41 percent to 77.83 percent in the DAX to account for a change in the free-float greater than 10 percentage points. This value equates to the number of tradable shares of the tendered shares class based on the current information.
After closing or failure of the transaction the tendered share will be replaced by the share of the new company or the old Deutsche Börse share respectively provided the new company fulfils the criteria for inclusion in the DAX index. This process ensures that the relevant criteria of index continuity and tradability are upheld.
Deutsche Börse has also published the attached detailed scenario calculation with all relevant calculation factors on www.dax-indices.com and www.deutsche-boerse.com.