Deals

Deutsche Boerse in Talks on €5.3 Billion Allfunds Deal

The building containing the offices of Allfund Group Plc in London.
Photographer: Chris J. Ratcliffe/Bloomberg

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By Aaron Kirchfeld, Eyk Henning, and Swetha Gopinath

November 27, 2025 at 3:58 PM UTC

Updated on

November 28, 2025 at 10:59 AM UTC

Deutsche Boerse AG is in exclusive talks to acquire European fund distribution platform Allfunds Group Plc in a €5.3 billion ($6.1 billion) cash and stock deal.

The German exchange operator has made a non-binding bid valuing Allfunds at about €8.80 per share, according to a statement on Thursday that confirmed an earlier Bloomberg News report. The offer represents a roughly 33% premium to Wednesday’s closing price.