Glass, Lewis & Co., LLC, an independent governance analysis and proxy voting firm, has reconfirmed its recommendation that TMX Group shareholders vote in favour of TMX Group’s proposed merger with London Stock Exchange Group plc (LSEG). The report, which was initially released on June 16, 2011, was updated to reflect recent amendments to the TMX-LSEG agreed merger and the Maple Acquisition Group Corp. unilateral offer.
On June 23, 2011, the TMX-LSEG merger also received a positive recommendation from Institutional Shareholder Services Inc., another independent proxy voting and corporate governance advisory firm.
“TMX Group’s merger with London Stock Exchange Group creates an international exchange operator with a strong financial position, ready for growth,” said Tom Kloet, CEO of TMX Group. “We are very pleased that two highly respected independent firms strongly agree with our plans and believe that the merger is in the best interests of TMX shareholders.”
TMX Group will hold its Annual and Special Meeting of shareholders to approve the merger and other resolutions on June 30, 2011, at 10:00 a.m. (EST) at the Design Exchange in Toronto.
TMX Group blue proxies must be received no later than 5:00 p.m. (EST) today.