EXCLUSIVE-Maple's Bertrand confident TMX bid will succeed
TORONTO, July 6 (Reuters) - Maple Group Acquisition Corp is confident it will get both shareholder and regulatory support for its C$3.8 billion ($3.94 billion) takeover bid for Toronto Stock Exchange operator TMX Group (X.TO).
"Now that we've gone over the very important step of not having the LSE proposal proceed ... we're of the view that the 70 percent (shareholder support) is, in terms of reaching it, is very realistic," Maple's chief representative, Luc Bertrand, told Reuters.
He said the consortium of banks and pension funds is working with Canada's Competition Bureau on its submission and that it has a very strong case.
Bertrand, who is also vice-chairman of Maple member National Bank of Canada (NA.TO), indicated that Maple does not believe it needs to raise its bid again to get more shareholders onside.
"This is as strong a bid as you can possibly imagine, so we're very comfortable with our proposal and we think it's fair to shareholders."
(Editing by Jeffrey Hodgson)
((firstname.lastname@example.org;+1 416 941 8067; Reuters Messaging: email@example.com)) Keywords: TMX/MAPLE
(C) Reuters 2011. All rights reserved. Republication or redistribution ofReuters content, including by caching, framing or similar means, is expresslyprohibited without the prior written consent of Reuters. Reuters and the Reuterssphere logo are registered trademarks and trademarks of the Reuters group ofcompanies around the world.
- Tweet this
- Share this
- Digg this
- Scots' support for independence lags on eve of referendum
- Analysis - Market calm over Scottish vote at odds with disaster warnings
- As many as 700 migrants feared drowned in Mediterranean
- Gerrard lights up Anfield with last-gasp Liverpool winner
- UK earnings edge up, unemployment falls more than expected