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Jun 24, 2011

Analysis – Maple’s TMX bid seen with Canada regulatory edge

TORONTO (Reuters) – A Canadian offer to buy the TMX Group (X.TO: Quote, Profile, Research) may have the regulatory edge over a friendly London Stock Exchange (LSE.L: Quote, Profile, Research) bid that has the pro-Canada lobby up in arms.

Lawyers and competition experts said neither bid faces insurmountable regulatory obstacles.

Jun 24, 2011

Maple’s TMX bid seen with Canada regulatory edge

TORONTO, June 24 (Reuters) – A Canadian offer to buy the
TMX Group (X.TO: Quote, Profile, Research) may have the regulatory edge over a friendly
London Stock Exchange (LSE.L: Quote, Profile, Research) bid that has the pro-Canada lobby
up in arms.

Lawyers and competition experts said neither bid faces
insurmountable regulatory obstacles.

Jun 23, 2011

LSE, Maple raise bids for TMX; showdown brews

TORONTO, June 22 (Reuters) – A Canadian consortium of banks
and pension funds said late on Wednesday it raised its hostile
bid to buy the operator of the Toronto Stock Exchange, just
hours after the London Stock Exchange sweetened its friendly
bid to some $4.1 billion.

The so-called Maple Group said it raised its cash and stock
offer for TMX Group (X.TO: Quote, Profile, Research, Stock Buzz) to C$50 a share from C$48. It also
plans to increase the number of TMX shares to be purchased for
cash under the offer from 70 percent to a maximum of 80
percent. It said the total value of its bid was C$3.8 billion
($3.9 billion).

Jun 23, 2011

LSE raises bid for TMX; Maple showdown brews

TORONTO (Reuters) – The London Stock Exchange added cash payouts to its friendly bid for the operator of the Toronto Stock Exchange on Wednesday, raising the value to $4.1 billion and topping a $3.8 billion hostile offer from a Canadian consortium.

Just a week before TMX Group shareholders vote on its proposal, the LSE added some C$660 million ($680 million) to its bid in the form of special dividends of C$4 per TMX share and 84.1 pence per ordinary share of the LSE, in an effort to woo shareholders from both companies.

Jun 22, 2011

London Stock Exchange sweetens its TMX bid

TORONTO, June 22 (Reuters) – The London Stock Exchange
(LSE.L: Quote, Profile, Research, Stock Buzz) sweetened its friendly bid for the operator of the
Toronto Stock Exchange to $4.1 billion on Wednesday, topping a
hostile offer from a Canadian consortium.

Stepping in a week before TMX Group (X.TO: Quote, Profile, Research, Stock Buzz) shareholders
vote on its proposal, the LSE added some C$660 million ($680
million) to its bid in the form of special dividends of C$4 per
TMX share and 84.1 pence per ordinary share of the LSE.

Jun 15, 2011

Maple Group has no plans to sweeten TMX bid

TORONTO (Reuters) – The all-Canadian consortium that launched a hostile C$3.7 billion ($3.8 billion) takeover bid for TMX Group has no plans to sweeten its C$48-a-share offer or change any other terms, a source with knowledge of Maple’s strategy said on Wednesday.

The source said, there was “no intention right now of changing the terms” for TMX, the operator of the Toronto Stock Exchange, TSX Venture Exchange and the Montreal Exchange for derivatives.

Jun 13, 2011

Maple launches formal $3.8 billion hostile bid for TMX

TORONTO (Reuters) – A Canadian consortium of banks and pension funds has taken its $3.8 billion (C$3.7 billion) takeover offer directly to TMX Group shareholders, touting the proposal as the best way to keep the country’s exchanges out of foreign hands.

Maple Group Acquisition Corp launched the hostile bid on Monday through a takeover circular that outlines an alternative to London Stock Exchange Group’s friendly $3.5 billion bid for TMX, the operator of the Toronto Stock Exchange.

Jun 9, 2011

Maple Group readies document to sell its TMX offer

TORONTO, June 9 (Reuters) – The Maple Group consortium of
Canadian banks and pension funds chasing a hostile takeover of
TMX Group (X.TO: Quote, Profile, Research, Stock Buzz) is preparing its formal pitch to convince
shareholders its offer is the best one on the table.

The group is expected to take its bid directly to
shareholders by means of a circular outlining its $3.7 billion
cash and stock offer. It’s competing against a friendly, $3.5
billion offer by the London Stock Exchange Group (LSE.L: Quote, Profile, Research, Stock Buzz) that
TMX’s management supports.

Jun 7, 2011

More firms close to joining Maple’s TMX bid -source

TORONTO, June 7 (Reuters) – At least three Canadian
financial services companies plan to join the Maple Group’s
$3.7 billion hostile bid for TMX Group (X.TO: Quote, Profile, Research, Stock Buzz), adding momentum
to the made-in-Canada alternative to the London Stock
Exchange’s friendly offer.

Desjardins Financial Group, GMP Capital Inc (GMP.TO: Quote, Profile, Research, Stock Buzz),
Dundee Capital Markets (DCM.TO: Quote, Profile, Research, Stock Buzz) could announce agreements as
early as Tuesday to join the Maple consortium challenging the
LSE’s (LSE.L: Quote, Profile, Research, Stock Buzz) $3.5 billion bid for the operator of the Toronto
Stock Exchange, a source familiar with the situation said on
Tuesday.

May 27, 2011

Build on success, Silicon Valley guru tells Canada

VANCOUVER, May 27 (Reuters) – Canada’s venture capital
sector needs to build on major new success stories and embrace
an incentive culture that includes stock options if it want to
become a vibrant industry, according to a partner at one of
Silicon Valley’s most storied venture firms.

“Entrepreneurship is like art or science, where you have to
build on the shoulders of giants,” said Bing Gordon, who heads
investing in social Web technology at Kleiner Perkins Caufield
& Byers, the Silicon Valley firm that has helped launch
companies like Google.