Calgary Herald

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.

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