TMX and LSE Merger Mining News

No competition challenge for LSE/TMX merger

London Stock Exchange Group and its takeover target, TMX Group, said Friday Canadian competition authorities won't challenge the proposed combination of two exchange operators. The issuance of the no action letter satisfies a condition of a Feb. 9 agreement by LSE and the company that operates the Toronto Stock Exchange to join forces in a $3 billion deal. A consortium of nine major Canadian banks and investment funds called Maple Group Acquisition Corp has made a hostile offer for TMX worth C$3.6 billion ($3.7 billion). The LSE proposal was not expected to raise any red flags from Canadian competition authorities, unlike the Maple bid.

Ernst & Young finds a lot to like in the TMX Group and LSE merger

Ernst & Young supports the merger of the TMX Group and LSE since it believes that the respective strengths of the two exchanges would complement one another. In a report looking at increased market capitalization on the TSX by miners, Ernst & Young says that both the LSE and TSX provide rich sources of capital to companies at different stages in the mining lifecycle. While the TSX is good at attracting startup and exploration companies, the LSE is focused on developed and diversified businesses.

TMX Group and LSE deal is "unacceptable"

Diane Francis, writing for the Financial Post, is withering in her denuciation of the proposed takeover of the TMX Group by the London Stock Exchange. She calls the deal "unacceptable" and says the deal would harm "Canada's competitive advantages".

TMX, LSE in merger talks: media reports

Two of the world's largest mining bourses are talking about a merger, according to two major newspapers who broke the story on Tuesday. The TMX Group Inc. and the London Stock Exchange PLC plan to […]