The London and Toronto stock exchanges abandoned plans for a C$3.6 billion tie-up on Wednesday, leaving both in play in a world already facing a wave of exchange consolidation. The failed bid from the London Stock Exchange (LSE.L), opens the door to a hostile C$3.8 billion offer for TMX Group(X.TO) from Canada's Maple Group consortium, a made-in-Canada alternative to a takeover that would have put a big domestic asset in foreign hands. It also turns the spotlight on the LSE as a target as exchanges consolidate to grow and broaden geographic reach, and to fight off rivals and new market entrants. Nasdaq OMX Group (NDAQ.O), smarting from its own failure in the United States to purchase the New York Stock Exchange parent NYSE Euronext (NYX.N), could be a contender for an alternative transatlantic combination with the LSE.
TMX Group Inc. is an integrated, multi-asset class exchange group. Shares of X traded higher by 6.26% or $2.71/share to $46.02. 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 15392683.
The NASDAQ OMX Group, Inc. is a global exchange group that delivers trading, exchange technology, securities listing, and public company services across six continents. Shares of NDAQ traded higher by 3.92% or $0.94/share to $24.95. In the past year, the shares have traded as low as $17.18 and as high as $29.71. On average, 2418410 shares of NDAQ exchange hands on a given day and today's volume is recorded at 2057486.
NYSE Euronext is a global operator of financial markets and provider of trading technologies. Shares of NYX traded higher by 1.84% or $0.61/share to $33.85. In the past year, the shares have traded as low as $26.58 and as high as $41.60. On average, 4774910 shares of NYX exchange hands on a given day and today's volume is recorded at 4398347.
