The chances of a successful bid by the London Stock Exchange (LSE.L) for Canada's TMX Group (X.TO) have diminished following Australia's plan to reject a bid by the Singapore Exchange (SGXL.SI) for ASX Ltd (ASX.AX), according to two analysts. "There is now a precedent," Doug Young, an analyst at TD Securities, wrote in a research note on Wednesday. He lowered his target price for shares of TMX, the owner of the Toronto Stock Exchange, to C$40 from C$44. "Given the similarities between the Australian and Canadian capital markets, we believe this development will factor into the Canadian government's and regulators' analysis of the TMX/LSEG merger. In our view the likelihood of this deal being approved has declined," Young wrote.
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