The London Stock Exchange's proposed takeover of the Toronto Stock Exchange should only be allowed if certain conditions are met, Canadian Imperial Bank of Commerce (CM.TO) executive Richard Nesbitt said on Tuesday. LSE has offered C$3 billion ($3.1 billion) for Toronto Stock Exchange owner TMX Group (X.TO), and the deal has just begun to wind its way through a complex regulatory and governmental approval process. "I think the conditions should be around ownership, should be around governance," and around the amount of trading activity that remains in Canada, Nesbitt, a former CEO of the Toronto exchange, told a financial services conference in Montreal.
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