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EXCLUSIVE-Maple's Bertrand confident TMX bid will succeed
July 6, 2011 / 5:48 PM / in 6 years

EXCLUSIVE-Maple's Bertrand confident TMX bid will succeed

By John McCrank and Solarina Ho

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.”

($1=$0.97 Canadian)

(Editing by Jeffrey Hodgson)

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