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Monday, June 6, 2011

Maple Group may add firms in TMX chase -report, (TSE: X), (TSE: GMP), (TSE: DCM), (LSE)

Maple Group Acquisition Corp, which has gone hostile with its $3.7 billion offer for Toronto Stock Exchange operator TMX Group (X.TO), is in talks to add at least three other financial-services companies to its consortium, the Wall Street Journal reported, citing sources. The paper said Desjardins Financial Group, GMP Capital Inc (GMP.TO) and Dundee Capital Markets (DCM.TO) are among the firms in negotiations to join the group. Maple Group, a consortium of nine Canadian banks and pension funds, had first launched its TMX bid on May 14, rivaling the $3 billion friendly offer from the London Stock Exchange Group (LSE.L). At least three and possibly four other firms could be the new additions to the consortium to be announced as early as this week, the Journal said, citing one person familiar with the matter. If the bid succeeds, the new additions to the consortium would hold a 7 percent stake in the stock exchange, while Maple's bank participants would cut their holding to 22 percent from the currently proposed 25 percent, the paper said.

Shares of X fell by 0.97% or $-0.42/share to $42.87. In the past year, the shares have traded as low as $36.93 and as high as $64.03. On average, 9330650 shares of X exchange hands on a given day and today's volume is recorded at 5427053.

Shares of DCM fell by 0.55% or $-0.1/share to $18.15. In the past year, the shares have traded as low as $14.47 and as high as $19.23. On average, 222966 shares of DCM exchange hands on a given day and today's volume is recorded at 186143.



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