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Key adviser firm backs TMX-LSE deal Add to ...

Maple Group Acquisition Corp.'s bid to take over the parent company of the Toronto Stock Exchange hit a snag, as a major advisory firm told shareholders they should reject the offer because it contains too much debt and regulatory risk.

Institutional Shareholder Services (ISS) instead threw its support behind TMX Group Inc. 's proposed merger with London Stock Exchange Group Plc. The recommendation is important because ISS recommendations influence the votes of a number of institutional investors - though on it own, it will not likely be enough to tilt to balance in the LSE's favour.

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