Canada's big banks are speaking out against the proposed C$3.1 billion takeover of the TMX Group (X.TO) by the London Stock Exchange (LSE.L), raising a formidable new obstacle to the deal winning approval. The move -- spelled out in a public letter from four of the country's top six lenders -- throws their considerable weight behind the growing resistance to the deal, and adds to the pressure on Canada's federal government to veto it. The Conservative government last year blocked BHP Billiton's (BHP.AX) proposed takeover of Canada's Potash Corp (POT.TO) following ardent opposition in Potash's home province of Saskatchewan.
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