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TMX Shareholders Warm Up To Maple Bid: report

With just two weeks to go before a referendum on the future of Canada's TMX Group (X.TO), operator of the Toronto Stock Exchange, shareholder Chris Damas is finally climbing off the fence, Reuters reported.

It said the once-undecided investor is now leaning toward a $3.7 billion, all-Canadian takeover bid by Maple Group Acquisition Corp and away from London Stock Exchange Group's $3.5 billion friendly transaction.

Like some other previously undecideds polled by Reuters this week, Damas appears to have been swayed by the circular that Maple released on Monday, formally launching its bid, it said. The Barrie, Ontario-based shareholder said the circular from the consortium of Canadian banks, pension funds and other financial firms has cleared up many of his questions about the offer.

Damas reportedly said he still wants a sweetener before he makes a final decision in favor of Maple, just as he said in an earlier Reuters poll. But overall, he now likes what he sees in Maple.

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

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