Tokyo Exchange Offers $1.1B For Osaka Counterpart

Law360, New York (November 22, 2011, 1:54 PM EST) -- Tokyo Stock Exchange Group Inc. is offering $1.1 billion for smaller Osaka Securities Exchange Co. Ltd. as part of a merger to help the exchanges compete globally, the companies announced Tuesday.

The combined exchange would trail only Nasdaq OMX and NYSE Euronext in terms of market capitalization, according to data from the World Federation of Exchanges.

The companies said in a statement that they are pursuing the business combination amid fierce, global competition between exchanges and a rise in domestic and cross-border mergers among exchanges overseas....
To view the full article, register now.