Maple Group Acquisition Corp. has extended its offer to purchase 70%-80% of shares of the Toronto-based TMX Group Inc. to Feb. 29 from Jan. 31. This offer is a part of Maple’s plans to acquire 100% of the TMX’s shares. The transaction is valued at roughly $3.8 billion. Maple consists of 13 Canadian financial services institutions and pension funds, including the Canada Pension Plan Investment Board, CIBC World Markets Inc. and the Ontario Teachers’ Pension Plan, all of which are based in Toronto, and Edmonton-based Alberta Investment Management Corp.
BNS reorganizes
Toronto-based Bank of Nova Scotia has consolidated its wholesale financial services under one brand. Scotia Capital Inc., ScotiaMocatta and Scotia Waterous will be brought under the Scotiabank name. The bank’s wholesale financial services business line, which provides corporations, institutions and governments around the world with corporate and investment banking and capital-markets products and services will be called Scotiabank Global Banking and Markets. BNS has more than 30 such offices around the world.
GCIC is born
Toronto-based Goodman & Co. Investment Counsel Ltd. has been renamed GCIC Ltd. The company offers wealth-management services through financial advisors, including mutual funds and hedge funds for Dynamic Mutual Funds Ltd. and portfolios in the Marquis Investment Program. GCIC also provides investment-counselling services to high net-worth clients of DundeeWealth Investment Counsel. GCIC is a subsidiary of DundeeWealth Inc., of Toronto.
Compiled by Fiona Collie
(fcollie@invest-mentexecutive.com).