TMX Group (X.TO), Canada's largest stock exchange operator, has had several meetings with hostile suitor Maple Group, and has not yet made a decision on whether it will support Maple's C$3.8 billion ($3.7 billion) takeover bid, Chief Executive Thomas Kloet said. Kloet said in an interview with Reuters on Friday that a friendly deal was only possible if regulators support the Maple plan, and that it is impossible to say how long the regulatory review process will take. "I think that when you agree to a deal, you have to agree to a deal that has a likelihood of being executed," he said. "In any of these deals ... and in this one in particular, you have a highly regulated organization. What the market has to consider is the regulatory risk of doing a deal." Shares in TMX, operator of the Toronto Stock Exchange, were up 0.27 percent at C$40.65 on Friday afternoon, well below Maple's C$50-a-share bid.
Shares of X fell by 1.43% or $-0.33/share to $22.74. In the past year, the shares have traded as low as $25.44 and as high as $64.03. On average, 10445900 shares of X exchange hands on a given day and today's volume is recorded at 6841940.
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