TMX group spurned Maple Group's $3.6 billion overture and decided to stick with the LSE. Maple Group Acquisition Corporation, a consortium of five of the country's largest pension funds and four Canadian bank-owned investment dealers, has expressed disappointment over the decision but hasn't given up the ghost yet.
A battle for control of the TMX has begun. The opening salvo comes courtesy of a consortium of four Canadian banks and five Canadian pension funds who have jointly made a $3.7 billion hostile bid for TMX to derail LSE's $3 billion friendly bid made in February.
The growth of alternative trading systems is eating into the market share of traditional Canadian stock exchanges, but it may be a little early to sound the death knell of the TMX Group. The combined value of trades placed on the Toronto Stock Exchange and the TSX Venture Exchange fell from 68.6% in Q2 2010, […]
The impact of geo-political strife in the Middle East and North Africa and tripartite tragedy in Japan hindered the Canadian IPO market in the first quarter, according to the quarterly PwC survey of initial public offerings on Canadian equity exchanges. However, the pause could mean new investment opportunities for those waiting on the sidelines hoping […]
There is a new twist in the tale of global exchange consolidation. Nasdaq OMX Group and Intercontinental Exchange (ICE) have made a $11.3 billion hostile bid for NYSC Euronext, adding a 19% premium to the proposed Deutsche Boerse deal announced February 10. Analysts on both sides of the Atlantic have pointed out that the latest […]
TMX Group has announced the integration of two new on-book dark order types—Dark Mid-Point and Dark Limit Orders—into the existing order books on Toronto Stock Exchange and TSX Venture Exchange. Dark orders allow institutional traders to place large buy and sell orders while limiting their impact on the price of the security they are trading. […]
Reader Alert: Make your views known on the TMX-LSE story. Post your thoughts at the bottom of this story and vote in our poll here. The tug of war among industry participants over the proposed TMX-LSE merger intensified as the Investment Industry Association of Canada (IIAC) weighed in on the tussle. In a presentation to […]
Reader Alert: Make your views known on the TMX-LSE story. Post your thoughts at the bottom of this story and vote in our poll here. With the right fiscal foundation, Canada can successfully meet the challenges of new domestic and global investment boom, according Jim Prentice, senior executive vice president and vice chairman of CIBC. […]
One of the leading competitors to the TMX Group says the proposed merger of the exchange with the London Stock Exchange comes as no surprise and even welcomes the news, so long as the deal is stripped of certain strategic assets. Mergers among traditional exchanges are not surprising, according to Jos Schmitt, CEO of Alpha […]
The head of the Toronto Stock Exchange has responded to criticism of his plan to merge the TMX Group with the London Stock Exchange Group, saying the deal will “deliver clear and significant benefits to Ontario.” Chief executive Tom Kloet appeared before the provincial legislature’s select committee, along with Xavier Rolet, CEO of the London […]