Deutsche Bank AG and Bankers Trust Corporation are in the advanced stages of negotiations concerning a potential cash merger at a proposed price of $93 per Bankers Trust share. The board of directors of Bankers Trust, and the steering committee of the Deutsche Bank Vorstand (or management board), have each indicated their support for the proposed transaction.
The proposed merger is subject to final approval by the Bankers Trust board and by the Deutsche Bank supervisory board. Separate board meetings for the approval of definitive agreements were scheduled for Nov. 29.
The transaction would also be subject to approval by Bankers Trust shareholders and regulators.