TMX-LSE merger dies
The group that operates the Toronto Stock Exchange has killed a $3.7 billion proposed merger with the London Stock Exchange group.
The exchange says the controversial deal doesn’t have enough shareholder support to go through.
TMX Group and London Stock Exchange shareholders were scheduled to vote on the merger deal Thursday morning.
Tom Kloet, the CEO of TMX Group, says it will now review a rival hostile takeover bid by Maple Group acquisition corporation.
Maple Group is a group of 13 Canadian banks and pension funds.
