They were joined by blue chip, long-term holders such as Fidelity and Merrill Lynch, Standard Life and the Italian group, Generali Asset Management.
So, although the hedge-funds can claim they made history by spearheading an investor revolt that turned a large public company's strategy upside down, a number of blue chip investors agreed with their sentiments.
There were also widespread concerns about standards of corporate governance at DB.
Two things wrankled: first, the chairman of DB's supervisory board, Rolph Breuer, is also head of Deutsche Bank, which had offered to partly fund DB's all-cash offer.
If ever there was a conflict of interest, this was it.
Second, despite pressure from DB's American and British investors, who make up two-thirds of the German company's shareholder register, Seifert resolutely refused requests to hold a shareholder vote on the merger.
But, if no one bids, how will things look for the LSE's bosses, chief executive Clara Furse and chairman Chris Gibson Smith?
The LSE's shares will dive and questions are bound to be asked as to why LSE's management failed to secure a deal.
Furse and Gibson Smith, however, ay, assuming that equities markets continue to recover.
But much else could change in 12 months -- the mighty New York Stock Exchange under John Thain is looking at demutualizing to facilitate mergers and acquisitions.
What could be more sensible than to bring together London and New York, the world's two biggest equities trading platforms?
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