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London Stock Exchange CEO Xavier Rolet, left, and TMX Group CEO Tom Kloet speak to the media at the TMX Broadcast centre. (Mark Blinch/Reuters/Mark Blinch/Reuters)
London Stock Exchange CEO Xavier Rolet, left, and TMX Group CEO Tom Kloet speak to the media at the TMX Broadcast centre. (Mark Blinch/Reuters/Mark Blinch/Reuters)

TMX shares jump on competing bid Add to ...

TMX Groupshares are up nearly eight per cent after the firm that operates the Toronto Stock Exchange received a multi-billion-dollar homegrown takeover bid.

Stock in TMX Group gained $3.21 to $44.96 in early morning trading on the TSX in the first trading after the announcement.

Maple Group Acquisition Corp. - comprised of four big banks and five pension funds - submitted a $3.6-billion bid, or $48 per share for TMX Group over the weekend.

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It would see the stock markets operator stay in Canadian hands and have a broad ownership base.

The TMX Group is in the midst of an attempted merger with the London Stock Exchange which would create a $6-billion entity and form the world's eighth-biggest securities market.

The TMX and LSE argue their combination will create a global player, including the leading market for mining stocks, with the size necessary to compete.









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Security Price Change
X-T TMX Group 57.67 0.70
1.229 %
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