The London Stock Exchange (LSE.L) faced a takeover battle on Thursday with the Maple Group over Canada's TMX Group (X.TO), the outcome of which may well decide whether it becomes takeover a target itself. The Maple Group of Canadian banks and pension funds late on Wednesday turned its C$3.6 billion ($3.7 billion) bid hostile, after the TMX board rejected it in favour of the LSE's $3 billion offer last week. This came after TMX and the LSE raised the stakes earlier on Wednesday by fixing a date for their respective shareholders to vote on the LSE deal. The merger partners said their shareholders will vote on the LSE-TMX "merger of equals" on June 30.
TMX Group Inc. is an integrated, multi-asset class exchange group. Shares of X remained unchanged at $44.89. In the past year, the shares have traded as low as $36.93 and as high as $64.03. On average, 9682960 shares of X exchange hands on a given day and today's volume is recorded at 0.
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