The Caisse de dépôt et placement du Québec believes the proposed merger between the Toronto Stock Exchange and the Montreal Exchange offers advantages for all the parties involved and supports the deal.
It came to that conclusion after examining the documents made public since the merger was announced last year and after obtaining additional information.
In December, the pension fund—which owns about 8% of the MX—issued a press release stating that while it found the proposal interesting, it still had concerns.
That said, the Caisse would like the Autorité des marchés financiers (AMF) to obtain more extensive, clearer and firmer undertakings that the ones proposed by the TSX Group regarding governance and in order to ensure that derivatives and clearing operations remain in Montreal.
“The Caisse also undertakes to support the new group as both a client and shareholder with a view to making it a stronger, more viable institution in an intensely competitive market,” it says in a statement.
For some background information on this story, click here, to read Caisse Has Questions About TSX/MX Merger.
To comment on this story, email craig.sebastiano@rci.rogers.com.