Staff, with files from wire services
Maple Group says its plan to acquire TMX Group is still on track, despite falling share prices for the Toronto Stock Exchange operator.
Maple Group, which includes the Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan, among other pension funds and financial institutions, said it is working with regulators, management and stakeholders on issues surrounding the C$3.8 billion takeover bid for TMX.
Shares of TMX Group have fallen 10% since Maple Group made its bid in May; however, the group has said the declining share price does not signal any change in its plan and it is confident it can secure approval for the C$50 a share bid by late fall.