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 […]
Approval by Canada’s Competition Bureau is a key regulatory hurdle
The group planning to buy TMX is in ongoing discussions with Alpha
The proposed acquisition of Alpha by Maple Group may have implications for governance and conflicts of interest mechanisms in place for exchanges
Opponents fear a small, powerful group taking control of most of the trading and listing business and all of the clearing business
Combining trading and clearing would create efficiencies and those cost savings would be passed along to market participants
Lack of competition in equities trading and clearing and settlement services worries smaller investment firms
Parizeau says AMF should use veto to ensure Montreal doesn't become a shell for derivatives
Maple and TMX refuse to make new commitments to Montreal in AMF hearing
Stakeholders get their say