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London exchange 'committed' to Toronto merger

London exchange 'committed' to Toronto merger

The London Stock Exchange says it is committed to completing a merger with the Toronto Stock Exchange, despite the emergence of a rival offer.
A group of nine Canadian banks and pension funds announced last week that they have tabled an informal 3.6 billion Canadian-dollar (US$3.7 billion) bid for the Toronto Exchange, an offer which they say is worth 20 percent more than the LSE's share-swap merger proposal.
The London exchange said Monday that it remains committed to the merger with TMX Group, owner of the Toronto exchange, on the terms announced on Feb. 9.
TMX Group says it has applied to Canadian provincial regulators for approval of the merger with the LSE. Regulators are expected to decide on the proposal later this year.


Updated : 2021-05-19 09:01 GMT+08:00