Here's what could happen as shareholders of Canada's largest stock exchange operator get set to vote on a C$3.6 billion ($3.7 billion) takeover bid from London Stock Exchange (LSE.L), which competes with a hostile bid from a consortium of Canadian banks and pension funds. TMX Group (X.TO) shareholders vote on June 30 on the LSE offer. Many proxies are already in, which means the two companies may already know if the deal will go through. Following are scenarios that M&A experts say might unfold as proxies and votes are tallied: TMX, LSE DEFER THE VOTE If the TMX and LSE see the proxy votes pointing toward a defeat, they could postpone the June 30 vote to a later date as they lobby for more support, arguing that shareholders need more information to decide.
TMX Group Inc. is an integrated, multi-asset class exchange group. Shares of X traded higher by 3.0% or $1.26/share to $43.31. In the past year, the shares have traded as low as $36.93 and as high as $64.03. On average, 8604990 shares of X exchange hands on a given day and today's volume is recorded at 7290549.
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