The London and Toronto stock exchanges abandoned plans for a C$3.6 billion merger on Wednesday, as it became clear they would not win enough shareholder support for their transatlantic alliance. "It is clear that the two-thirds threshold required to approve the merger would not have been achieved," Toronto Stock Exchange operator TMX Group (X.TO) said in a statement.
TMX Group Inc. is an integrated, multi-asset class exchange group. Shares of X traded higher by 6.72% or $2.91/share to $46.22. In the past year, the shares have traded as low as $36.93 and as high as $64.03. On average, 8585360 shares of X exchange hands on a given day and today's volume is recorded at 11988581.
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