TMX to push on with LSE vote
Thursday 26 May 2011
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.
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