TMX Aborts Merger With London Exchange

Law360, New York (June 29, 2011, 2:19 PM EDT) -- Toronto stock exchange operator TMX Group Inc. on Wednesday pulled the plug on its proposed merger with London Stock Exchange Group PLC in the face of underwhelming shareholder support.

Even though a majority of shareholders approved the merger, which would have created a $6 billion exchange, there was no shot of attaining the two-thirds threshold required to consummate the deal, TMX said.

“The TMX Group management and board believe that the TMX-LSE merger would accelerate our business strategy and create shareholder value, while enhancing the performance...
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