OMERS CEO Michael Nobrega says he hopes the London Stock Exchange would make another play for the TMX Group if the Maple consortium's bid doesn't succeed.
OMERS did not join the Maple group, while a number of other major pension plans did.
"We supported the LSE," Mr. Nobrega said. He didn't join Maple because he felt it was a highly leveraged bid and was worried about its chances of success.
Now he's worried that no bid for the TMX will succeed. "The status quo is probably not an acceptable position for TMX," he said.
Maple's bid still faces challenges in terms of regulatory approvals, most notably from Canada's Competition Bureau, among other hurdles.
Maple still might fall apart because of deal fatigue, regulatory issues, or due to its structure, Mr. Nobrega said.
"Maybe LSE would revisit the situation at that time," he added, expressing what he hopes although making it clear he has no knowledge that the LSE would consider that.
If Maple falls apart and the LSE doesn't make a new bid, Mr. Nobrega said he would like the banks to effectively sell Alpha to the TMX to return the market to the way it was previously, with one major player.
"It would be better that way," he said, adding that Canada is a small nation.