Maple Group's plan to acquire TMX Group (X.TO) is on track, despite a retreating share price for the Toronto Stock Exchange operator. The group of Canadian financial institutions said on Monday it is working with regulators, management and stake holders on issues surrounding the C$3.8 billion ($3.9 billion) takeover bid for TMX. Shares of TMX Group have fallen 10 percent since Maple made its hostile bid in May, countering a friendly offer for the parent of the Toronto Stock Exchange by the London Stock Exchange (LSE.L). Maple said the share price's fall does not signal any change in its plan, however.
Shares of X traded higher by 9.04% or $2.49/share to $30.04. In the past year, the shares have traded as low as $25.44 and as high as $64.03. On average, 9021600 shares of X exchange hands on a given day and today's volume is recorded at 10501935.
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