The boards of the London Stock Exchange and Deutsche Boerse confirmed on Tuesday that they are discussing a potential merger.

While discussions of the potential merger are ongoing, the move would be defined as a reverse takeover. All major business units would operate under their current names.

The LSE traded up more than 19 percent on the news.

This story is developing. Please check back for further updates.

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First Published:Feb 23, 2016 7:45 PM IST