The proposal by Maple Group, a consortium of financial institutions looking to purchase TMX Group and combine it with privately held Alpha Group, has hit a roadblock over the price it is willing to pay for Alpha, the Globe and Mail reported on Friday. Maple is offering about C$100-C$200 million, while Alpha is looking for about C$450-C$600 million, people familiar with the situation told the paper.The bank-led group wants to acquire the owner of the Toronto Stock Exchange for C$3.8 billion and combine it with TMX's top stock trading competitor Alpha, to form an entity that would host over 80 percent of all share trading in Canada, the paper said.Representatives from Maple and Alpha declined to comment, it added.
TMX Group Inc. is an integrated, multi-asset class exchange group. Shares of X remained unchanged at $42.72. In the past year, the shares have traded as low as $35.40 and as high as $45.69. On average, 156308 shares of X.TO exchange hands on a given day and today's volume is recorded at 0.
Financial Institutions, Inc. (FII) is a financial holding company. Shares of FISI remained unchanged at $15.26. In the past year, the shares have traded as low as $12.18 and as high as $20.74. On average, 36012 shares of FISI exchange hands on a given day and today's volume is recorded at 0.
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