TMX Group operates the Toronto Stock Exchange. Maple Group is expected to extend its offer for TMX today. (Deborah Baic/The Globe and Mail)
Maple takes big steps toward deal for TMX
With agreements hammered out for Alpha and CDS, and some apparent leeway from regulators, consortium renews $3.8-billion bid for Toronto Stock Exchange operator
Slideshow
Stock exchange merger tally
The following is a list of recent successful and failed stock exchange mergers, as well as ongoing talks.
Roundtable
Why did the TMX-LSE deal die?
And what's next? The Globe Investor Roundtable team takes stock
Opinion
BMO Nesbitt Burns President argues TMX-LSE merger would benefit Canada
'This transaction will create benefits to Canada both from a capital formation and from a technology perspective – both critical to the success of a stock exchange,' says Eric C. Tripp
Earlier discussion
Your questions on the TMX-LSE merger
Business reporter Boyd Erman took your questions on the proposed deal
Interactive graphic
The LSE-TMX deal
Merger
Watch the TMX-LSE news conference
Representatives from the London Stock Exhange and the TMX Group hold a joint press conference to discuss the deal between the two exchanges
Merger
Watch the TMX-LSE news conference (Part Two)
Representatives from the London Stock Exhange and the TMX Group hold a joint press conference to discuss the deal between the two exchanges.
Editor's picks
Best reader comments on the TMX-LSE merger debate
Many Globe readers have waded into our comments area to debate whether the deal would benefit Canada
Latest stories
Maple’s TMX deal inches closer as regulator offers olive branch
Competition Bureau gives positive feedback to 13-member consortium on proposed deal for exchange
Streetwise
Moribund TMX-Maple deal sends all the wrong signals
Regulatory approval has yet to be granted, and Canada’s biggest stock exchange is missing opportunities to grow
M&A
Maple-TMX deal runs into new obstacle
Negotiations to buy rival stock market bogged down by big disagreement on amount that should be paid
Maple holds fast to ‘fair and reasonable’ fee message
Tells OSC that if it secures approval to buy TMX Group and the CDS, it will keep clearing and settlement fees in check
Watchdog sets high bar for Maple’s TMX takeover
Competition Commissioner expresses ‘serious concerns’ over deal
Parizeau seeks conditions on TMX takeover
Former Quebec premier says securities regulator must ensure Montreal remains centre of derivatives trading
TMX approves Maple takeover but investors still have doubts
Stock continues to trade below bid price as Ottawa and four provinces to investigate whether competitiveness will be reduced
Boyd Erman
For brokerages left out of Maple, it's time for Plan B
Firms outside the Maple group are considering starting up a competitor to avoid a potential rise in costs
Survey
Financial analysts ‘concerned’ about bid for TMX
But almost half say a takeover is a good idea
Maple Group extends TMX takeover bid
Consortium pushes deadline for its $3.8-billion offer to Sept. 30
Nasdaq exchange could bid for TMX Group, observers say
Distance and influence could make an American bid more successful than a European one
TMX, Maple Group in talks
Ontario Finance Minister says discussions are taking place between stock exchange, hostile bidder
TMX snubs its suitor
CEO Tom Kloet says ‘we’re not anywhere near’ friendly negotiations with Maple Group
LSE goes from hunter to hunted
Suddenly isolated, the London exchange has exposed itself to a takeover attempt
Competition watchdog presents high hurdles for Maple
Regulator expected to examine domestic TMX takeover closely
Columns and blogs
The TMX merger proposal: Why mess with success?
The proposed merger with the London exchange is sparking debate, but there are many arguments against it
In a TMX/LSE merger, whose rules apply?
Regulations differ, and there are concerns investors may get the short end of the stick
How real is TMX-LSE's cross-listings pitch?
Three years after merger that created NYSE Euronext, cross listings have been rare
A merger that will only bring mediocrity
Amalgamating the TSX with the LSE has nothing to offer and will erode all the positive aspects of the Canadian exchange
Poor communication put TMX marriage in trouble from the start
Merger’s fate could have already been sealed 24 hours before the public announcement
Hard to see downside to TMX-LSE merger
When it comes to exchanges, economies of scale benefit investors, brokers and companies
TMX-LSE better hope commodity bubble doesn’t burst
This deal seems to be a bet that the merged exchange will be the premier equity base to feed China’s hunger for resources
TMX powers post-merger exchange
TMX has been handed some of the most detailed governance rights ever seen in a foreign takeover of a Canadian company
TMX/LSE merger still has a ways to go before completion
Investment Canada Act approval required; still room for other bidders to enter the fray
Details of the LSE-TMX deal that might give you pause
Debate begins as Ontario, Quebec raise red flags
Is London colonizing Canada’s capital markets in TMX deal?
Debate begins over whether LSE-TMX deal is a loss, or creation of a superpower
Call it what you like, but the LSE-TMX deal is a takeover
Sensitivities will run high on this one
