TORONTO, May 14 /CNW/ - TMX Group Inc. announces that it has received a
written proposal for the acquisition of TMX Group by a corporation,
formed by a number of Canadian financial institutions, including
pension funds and banks, operating under the name Maple Group
Acquisition Corporation ("Maple").
The Maple proposal, which is not binding and was prepared for discussion
purposes, provides for a combination of cash and equity consideration
stated to be at a premium to the current market price of TMX Group
shares. The proposal also involves a number of significant conditions,
including regulatory approval for the combination of TMX Group with
both Alpha Group and CDS Inc., but does not specify the means for
satisfying these conditions.
The Board of Directors of TMX Group, in accordance with its fiduciary
duties and with counsel from its financial and legal advisers, will
fulfill its legal responsibility and will evaluate the proposal.
TMX Group will continue to pursue efforts currently underway to secure
the necessary regulatory and shareholder approvals required to complete
its agreed merger with London Stock Exchange Group.
TMX Group will make no other public comment on the Maple proposal until
the Board of Directors has completed its analysis.
About TMX Group (TSX-X)
TMX Group's key subsidiaries operate cash and derivative markets for
multiple asset classes including equities, fixed income and energy.
Toronto Stock Exchange, TSX Venture Exchange, Montreal Exchange,
Canadian Derivatives Clearing Corporation, Natural Gas Exchange, Boston
Options Exchange (BOX), Shorcan, Shorcan Energy, Equicom and other TMX
Group companies provide listing markets, trading markets, clearing
facilities, data products and other services to the global financial
community. TMX Group is headquartered in Toronto and operates offices
across Canada (Montreal, Calgary and Vancouver), in key U.S. markets
(Houston, Boston and Chicago) as well as in London. For more
information about TMX Group, visit our website at www.tmx.com.
SOURCE Toronto Stock Exchange
For further information:
Director, Corporate Communications