Are you looking for a stock?
Try one of these
The consortium of Canadian financial institutions bidding for the operator of the Toronto Stock Exchange (X-T) extended its $3.8-billion offer to July 31, it said on Thursday.
Maple Group, which prolonged its bid to buy TMX Group Inc for the eighth time, said the extension will allow for the necessary regulatory approvals needed for an ambitious plan that would transform Canada's stock trading landscape.
Maple, which comprises most of Canada's biggest banks as well as pension funds, a giant insurer and other financial groups, wants to combine TMX with bank-owned Alpha Group, Canada's second-biggest stock trading venue.
It also wants to wrap in the Canadian Depository for Securities Ltd., the clearing system for securities trades.
Luc Bertrand, Maple's key spokesman and vice-chairman of National Bank Financial, is expected to deliver a speech focusing on the deal in Toronto later on Thursday.
Critics are worried that the deal would concentrate too much power in the hands of a single player, creating a near monopoly of stock market trading and clearing operations.
Regulators in Ontario, Quebec, Alberta and British Columbia are reviewing the deal. The federal Competition Bureau, an independent law-enforcement agency, is also scrutinizing the proposed bid.
TMX shares closed down 23 Canadian cents at C$45.92 on the Toronto Stock Exchange on Wednesday, below Maple's C$50 a share offer.