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Maple sticks with £2.4bn offer price for TMX

By Daily Mail Reporter
Updated: 04:34 EDT, 17 June 2011

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The all-Canadian consortium attempting to gatecrash the London Stock Exchange's plans to take over Toronto Stock Exchange operator TMX is expected to stick to its £2.4bn offer.

A source close to Maple Group's plans has said it did not intend to sweeten its bid.

The alliance of Canadian banks and pension and investment firms, is also hoping to buy Canadian alternative trading system Alpha Group and is said to be confident it would win competition authorities approval for this part of its plan.

Maple turned up the heat on the LSE's plans on Monday when it officially launched a hostile bid for TMX.

LSE (down 16p at 939p) and TMX shareholders will vote on their proposed friendly tie up on June 30.

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