At least three more Canadian financial services companies plan to join Maple Group in its $3.7 billion hostile bid to take over TMX Group (X.TO), Canada's major stock market operator, a source familiar with the situation said on Tuesday. Desjardins Financial Group, GMP Capital Inc (GMP.TO), Dundee Capital Markets (DCM.TO) are close to an agreement to join the consortium that has mounted a challenge to London Stock Exchange Group's (LSE.L) friendly $3.5 billion bid. One other firm may also join the Maple bid, according to the source, who stressed that no agreement had been finalized. Even so, an announcement is expected later Tuesday or Wednesday. "There will be some new members announced later today, maybe tomorrow. It might be as early as this afternoon," said the source who could not be named due to his company policy.
Shares of X traded higher by 0.72% or $0.31/share to $43.18. 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 1232207.
Shares of DCM traded higher by 0.39% or $0.07/share to $18.22. 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 13245.
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