Maple’s bid for TMX gains support
deal • Maple acquisition corp. has growing support for its $3.58 billion bid to buy Toronto Stock Exchange owner tMX Group Inc., said Luc Bertrand, head of the bank-led group.
TMX shareholders will probably reject a rival offer from the London Stock exchange Group PLc in a vote set for June 30, Bertrand said.
The Maple offer will provide better long-term growth and protect the company’s dividend, Bertrand told reporters Monday in Montreal.
“There is a growing body of institutional investors and also many retail investors who are increasingly understanding that what we are proposing from a business standpoint” is “significantly superior,” he said after a speech where he touted Maple’s local backers over U.K. control.