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Business News

TMX to push on with LSE vote

The Ontario Superior Court of Justice has issued an interim order that TMX yesterday said allowed it to proceed with a shareholder meeting and vote on its proposed tie-up with the London Stock Exchange at the end of June.

TMX, the operator of the Toronto Stock Exchange, last week rejected a C$3.6bn (£2.3bn) takeover bid from a group of Canadian banks and pension funds. The Toronto-based exchange operator says it still supports a £1.8bn friendly offer to join forces with the London Stock Exchange put forward in February. The combination would form a transatlantic entity for trading stocks and derivatives and other financial assets.