Competition Bureau won’t challenge TMX-Maple deal

TORONTO (Reuters) - Canada's top regulators approved the takeover of the country�

For the team of veteran investment bankers and Bay Street lawyers involved, the takeover of Canada’s main stock exchange company TMX Group Ltd. by a consortium of banks and pension funds under the Maple Group banner was unique in magnitude and detail. “There were 100 things that we needed to do right and if any of them went wrong, that one could have caused the deal to crater,” says veteran securities lawyer Vince Mercier, a partner at law firm Davies Ward Phillips & Vineberg LLP who worked with the banks in the Maple consortium.

Competition commissioner Melanie Aitken’s position halts any momentum Maple Group gained from obtaining support from TMX’s board of directors

Competition commissioner Melanie Aitken’s position halts any momentum Maple Group gained from obtaining support from TMX’s board of directors

The Commissioner of Competition has expressed “serious concerns” over the proposed purchase of Toronto Stock Exchange owner TMX Group Inc. by a consortium of banks and other financial services firms

Maple Group Acquisition Corp. has won control of TMX Group Inc., with 91% of shares tendered to its takeover offer.