ARTICLE
11 February 2011

Proposed Merger Of TSX And LSE To Create World's #1 Listings Venue For Natural Resources And Clean Technology Companies

On 9 February 2011, TMX Group Inc., the operator of the Toronto Stock Exchange and the Toronto Venture Exchange, and London Stock Exchange Group plc announced that they had agreed a £4.3 billion all-share merger of equals to combine Europe’s and Canada’s leading diversified exchange groups.
UK Corporate/Commercial Law
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On 9 February 2011, TMX Group Inc., the operator of the Toronto Stock Exchange and the Toronto Venture Exchange, and London Stock Exchange Group plc announced that they had agreed a £4.3 billion all-share merger of equals to combine Europe's and Canada's leading diversified exchange groups.

The proposed merger would create the world's #1 listings venue:

  • By number of total listings (over 6,700 companies with an aggregate market capitalisation of approximately £3.7 trillion)
  • For SMEs, with approximately 3,600 combined AIM and TSX-V listings
  • For natural resources, mining, energy and clean technology companies.

The transaction is subject to shareholder, regulatory and Ontario court approval.

Jonathan Deverill, a corporate partner at DMH Stallard who has wide experience in acting for London-Toronto dual listed companies commented,

"This merger should help efforts to make life easier for companies which have, or are contemplating, a dual listing on both the London and Toronto stock exchanges. In particular, I think this will help junior resources companies on both sides of the Pond."

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