Proxy advisory firm ISS said on Thursday it recommends that TMX Group (X.TO) shareholders vote in favor of a proposed combination with the London Stock Exchange (LSE.L). The firm said there is little incentive for shareholders to support the alternative cash-and-stock offer from Maple Group -- a consortium of Canadian banks and pension funds -- given the level of leverage involved in that offer.
TMX Group Inc. is an integrated, multi-asset class exchange group. Shares of X remained unchanged at $42.60. In the past year, the shares have traded as low as $36.93 and as high as $64.03. On average, 8796420 shares of X exchange hands on a given day and today's volume is recorded at 0.
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