TMX Group Inc. announces that it has received a written proposal for the acquisition of TMX Group by a corporation, formed by a number of Canadian financial institutions, including pension funds and banks, operating under the name Maple Group Acquisition Corporation (“Maple”).
The Maple proposal, which is not binding and was prepared for discussion purposes, provides for a combination of cash and equity consideration stated to be at a premium to the current market price of TMX Group shares. The proposal also involves a number of significant conditions, including regulatory approval for the combination of TMX Group with both Alpha Group and CDS Inc., but does not specify the means for satisfying these conditions.
The Board of Directors of TMX Group, in accordance with its fiduciary duties and with counsel from its financial and legal advisers, will fulfill its legal responsibility and will evaluate the proposal.
TMX Group will continue to pursue efforts currently underway to secure the necessary regulatory and shareholder approvals required to complete its agreed merger with London Stock Exchange Group.
TMX Group will make no other public comment on the Maple proposal until the Board of Directors has completed its analysis.