TORONTO (Reuters) – A proposal by a group of Canadian banks and pension funds to take over the operator of the Toronto Stock Exchange offers cost savings and opportunities for international growth, the group said on Monday.

A consortium calling itself the Maple Group Acquisition Corp is proposing a C$3.6 billion ($3.7 billion) deal to buy TMX Group, aiming to derail a $3 billion friendly bid for the exchange operator by the London Stock Exchange.

TORONTO (Reuters) – Alpha Group, an alternative trading system at the center of a takeover proposal for the operator of the Toronto Stock Exchange, said on Monday it was too soon to say if such a deal would trigger competition issues.

Alpha, which has taken nearly 20 percent of the market for Canadian stock trading since it opened in 2007, is owned by many of the same Canadian banks and pension funds that would buy the TMX Group under a proposal put forward by Maple Group Acquisition Corp.

LONDON/TORONTO (Reuters) – The London Stock Exchange and Canada’s TMX Group reported forecast-beating results on Friday as they applied for regulatory approval of their $3 billion deal to join forces.

Shares of the exchanges, both pressured by competition from alternative trading upstarts, rose after the results.

LONDON/TORONTO (Reuters) – The London Stock Exchange and Canada’s TMX Group reported forecast-beating results on Friday as they applied for regulatory approval of their $3 billion (1.9 billion pound) deal to join forces.

Shares of the exchanges, both pressured by competition from alternative trading upstarts, rose after the results.

TORONTO (Reuters) – TMX Group, the operator of the Toronto Stock Exchange, delivered forecast-beating quarterly results on Friday as it prepares for regulatory reviews of its $3 billion plan to join forces with the London Stock Exchange.

Revenue for TMX, which also operates the TSX Venture Exchange for small-capitalization companies and the Montreal Exchange derivatives market, rose 17 percent in the first quarter, thanks to record trading volume and robust equity financing activity.

LONDON/TORONTO (Reuters) – The London Stock Exchange and Canada’s TMX Group posted strong financial results on Friday as they filed their $3 billion merger deal with the Canadian authorities.

The exchanges said on Friday they had formally applied to have their merger approved by securities authorities in Ontario, Quebec, Alberta and British Columbia, all of which must pass the merger.

TORONTO (Reuters) – TMX Group (X.TO: Quote, Profile, Research), the operator of the Toronto Stock Exchange, on Friday reported a 13 percent rise in quarterly profit and said it filed applications with Canadian provincial regulators for approval of its $3 billion (1.85 billion pound) tie-up with the London Stock Exchange (LSE.L: Quote, Profile, Research).

The two exchanges filed with securities commissions in Ontario, Quebec, Alberta and British Columbia. Last month, TMX and LSE filed its application with the federal government under the Investment Canada Act.

TORONTO (Reuters) – TMX Group, the operator of the Toronto Stock Exchange, on Friday reported a 13 percent rise in quarterly profit and said it filed applications with Canadian provincial regulators for approval of its $3 billion tie-up with the London Stock Exchange.

The two exchanges filed with securities commissions in Ontario, Quebec, Alberta and British Columbia. Last month, TMX and LSE filed its application with the federal government under the Investment Canada Act.

TORONTO, May 10 (Reuters) – TMX Group Inc (X.TO: Quote, Profile, Research, Stock Buzz) will file
applications within the next few weeks with Canadian provincial
securities regulators seeking approval of a takeover bid from
London Stock Exchange (LSE.L: Quote, Profile, Research, Stock Buzz), TMX Chief Executive Tom Kloet
said on Tuesday.

As well as from securities regulators, the head of Canada’s
largest exchange operator is optimistic about getting the green
light from the federal government and still sees the deal
wrapping up in the fourth quarter, he told Reuters on the
sidelines of the Bloomberg Canada Economic Summit.

TORONTO, May 5 (Reuters) – Canadian economic data flashed
mixed signals on Thursday as the value of Canadian building
permits issued in March soared past expectations, but
purchasing activity in April fell short of forecasts.

Building permit value jumped 17.2 percent from February to
the highest level in almost four years as permits issued for
multifamily dwellings, mainly condominiums, more than doubled,
Statistics Canada said. [ID:nN0796933]