LSE completes £387m LCH.Clearnet deal The €19-a-share, cash offer, worth up to €463m (£387m) will see the LSE acquire up to 60pc of Europe's largest clearing house, which ensures that trades of products such as shares and bonds are completed. Xavier Rolet, LSE chief executive, described the deal as "transformative" and admitted it eased his disappointment at not completing a $3.2bn (£2bn) merger with Canadian bourse TMX last June. The LCH tie-up is the second deal the LSE has done since then - having acquired the remaining 50pc of the FTSE International it did not already own in December. LSE shares closed up 57 at 955p as analysts and investors welcomed the move, which will help the Exchange take advantage of new regulations being pushed through in the wake of the financial crisis. The LSE said it will use existing resources and bank facilities to pay for the deal and had already received support from about 60pc of shareholders willing to hand over 46.9pc worth of shares. An offer document will be published over the next few days and will be followed by shareholder meetings in April. The group said it hoped to replicate the "partnership" model is already uses with trading platform Turquoise and would be willing to lower its stake in LCH to fall to 51pc in the future to accommodate "future potential partners. Analysts at Barclays Capital said this was "key" to keeping the support of LCH's investment banking shareholder base. They said it would ensure LCH remained the banks' future OTC clearer of choice. "We estimate there can be good synergies from bringing LCH within the LSE group and using LSE's Millennium technology to improve LCH's systems," they added. Despite this, analysts at Numis warned that LCH's future revenues will suffer if both NYSE Euronext and the London Metal Exchange create their own clearing businesses, as planned. The deal, which values LCH at €813m, is also likely to face regulatory scrutiny. However, sources close to the LSE said they were confident LCH proposed business model would overcome any fears regulators may have. The so-called "open horizontal model" would ensure LCH retain other shareholders and clears for other exchanges as well as the LSE.