Maple Group Acquisition Corp. has again extended its takeover offer for TMX Group Inc. (TSX:X), this time until March 30 as the federal Competition Bureau continues to examine the offer.

The bid by the consortium of 13 financial institutions and pension funds, which values the TMX at about $3.8 billion, had been set to expire on Feb. 29.

On Thursday, the president of Quebec’s Caisse de dépôt et placement du Québec, which is a member of the consortium, expressed optimism that the transaction for Canada’s dominate stock market operator would be approved by regulators.

“‘I think the Competition Bureau in Ottawa has had concerns,” Michael Sabia said, but added that a lot of “good work” has since been done and that he believed the regulators are now a “bit more comfortable” with the prospect.

He described Maple’s bid as good for Quebec and for Canada as a whole. “So I very much hope that the officials in the Competition Bureau understand the nation-building importance of this and think very hard of what happens if this doesn’t happen.”

The Caisse, Canada’s largest pension fund manager, is one of 13 financial institutions that are part of Maple Group. The group also includes Quebec-based financial companies National Bank and Desjardins Financial and the FTQ investment agency.

Besides the Caisse and the Quebec entities, other investors in Maple Group are: Alberta Investment Management Corp., Canada Pension Plan Investment Board, CIBC World Markets, Dundee Capital, GMP Capital, Ontario Teachers’ Pension Plan, Scotia Capital, TD Securities and Manulife Financial.

The TMX Group runs the Toronto Stock Exchange and TSX Venture exchange as well as energy trading and other businesses.

TMX Group’s board originally supported a merger proposal with the London Stock Exchange Group and dismissed the Maple Group offer over a number of debt, competition and regulatory concerns.

But after the LSE deal failed to gain enough shareholder support in the face of the richer Maple bid this summer, the board turned its attention to the Maple offer.

Maple needs regulatory approvals to merge the owner of the Toronto Stock Exchange with the alternative Alpha Trading System, and clearing and depository firm CDS Inc. Alpha and CDS are owned by the major players in the Canadian securities industry, several of which are part of the consortium.