Maple Tries Softer Sell for TMX After LSE Defeat: report

By Midnight Trader,  June 30, 2011, 02:34:02 PM EDT

After seeing its transatlantic rival go down to defeat, the Maple Group consortium of Canadian banks - including Scotiabank, TD, National Bank and Manulife - and pension funds said on Thursday it would like to proceed with a takeover of TMX Group (X.TO) on a friendlier note, according to a Reuters file.

"Nobody is looking at this and saying 'Okay, now lets pack up our tent and go home'," a source with the 13-member consortium said a day after the London Stock Exchange's friendly takeover bid for Toronto Stock Exchange operator TMX collapsed in the face of Maple's richer, hostile challenge.

"We would like to turn this friendly. We'd like to figure out how we get the TMX to say, 'You know, we want to do this with you,' because we are in a much easier position to move on the regulatory fronts with a party that wants to do a deal."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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