TMX Group confirmed today that it is in advanced discussions with London Stock Exchange Group regarding a possible merger of equals to create an international exchange leader.
Current discussions contemplate an exchange ratio close to the current market capitalization of London Stock Exchange Group plc and TMX Group Inc. It is currently contemplated that the executive management and senior leadership of the Merged Group will be drawn from a balance of leaders from both organisations. The merged Group would be co-headquartered in London and Toronto and continue to be overseen by its existing regulatory authorities.
TMX Group is not in a position to comment further at this time.