THE Canadian consortium trying to gatecrash London Stock Exchange's tie-up with Toronto's bourse has been advised that its counter-bid will be given competition clearance, insiders claimed yesterday.
The possibility piles pressure on the LSE,Use bluray burner to burn video to BD DVD on blu ray burner disc. which faces a crunch vote in two weeks on its agreed ¡ê2.1 billion ($3.2bn) merger with Toronto by the shareholders of TMX Group, the bourse's owner.
If the LSE loses the vote, it could itself become a takeover target, with America's Nasdaq and Asian exchanges all contenders to buy it.
Maple, a consortium of 13 Canadian banks, pension funds and financial services companies, plans to merge the Toronto bourse with two other Canadian exchanges, Alpha and CDS.
The LSE says that the tie-up would create a monopoly controlling 90 per cent of Canada's stock exchange market.buy landscape oil paintings online.
Chief executive Xavier Rolet said this month that a competition review of Maple would be "at best highly problematic".
But a source close to Maple revealed that its lawyers are advising that competition clearance would be given after preliminary talks with the country's competition regulator.
The source added that Maple has a plan to appease Canada's Competition Bureau.
But Sources close to the LSE dismissed the comments.
The exchange's anti-trust adviser Michelle Lally said: "The Maple bid essentially requires the Canadian Competition Bureau to approve a merger to monopoly. The Maple deal lessens and prevents competition.
"It will foreclose any new effective entry in the equities trading market for any listing venue," Ms Lally said.In addition to hydraulics fittings and Aion Kinah,
The LSE is understood to have the backing of enough of its own big institutional shareholders to secure a "yes" vote at the TMX meeting.
But TMX has a large retail shareholder register and the outcome of its side of the vote is far less predictable.
There has been speculation the LSE and TMX could delay their shareholder votes to give them more time to bring investors around, but the LSE insisted that voting will go ahead as planned on June 30.
It is understood that the Dubai Government, one of the biggest shareholders in the LSE with a 20 per cent stake,we supply all kinds of oil painting reproduction, will vote in favour of the tie-up.
But Dubai has lost millions on its investment in the LSE and has made clear privately that its stake is for sale.
It is thought that Dubai's sovereign wealth fund would step up the sale process quickly if LSE's bid for TMX failed.Houston-based Quicksilver Resources said Friday it had reached pipeline deals
Maple went hostile with its bid this week. In a direct approach to shareholders, the group is offering $C48 per share in cash for 70 per cent of shares in TMX.
Maple claims that its $C3.7bn ($3.6) offer is superior to the $US3.5bn ($3.3) deal agreed between the LSE and TMX because it is based upon expanding the Canadian group's business rather than stripping out costs.
The possibility piles pressure on the LSE,Use bluray burner to burn video to BD DVD on blu ray burner disc. which faces a crunch vote in two weeks on its agreed ¡ê2.1 billion ($3.2bn) merger with Toronto by the shareholders of TMX Group, the bourse's owner.
If the LSE loses the vote, it could itself become a takeover target, with America's Nasdaq and Asian exchanges all contenders to buy it.
Maple, a consortium of 13 Canadian banks, pension funds and financial services companies, plans to merge the Toronto bourse with two other Canadian exchanges, Alpha and CDS.
The LSE says that the tie-up would create a monopoly controlling 90 per cent of Canada's stock exchange market.buy landscape oil paintings online.
Chief executive Xavier Rolet said this month that a competition review of Maple would be "at best highly problematic".
But a source close to Maple revealed that its lawyers are advising that competition clearance would be given after preliminary talks with the country's competition regulator.
The source added that Maple has a plan to appease Canada's Competition Bureau.
But Sources close to the LSE dismissed the comments.
The exchange's anti-trust adviser Michelle Lally said: "The Maple bid essentially requires the Canadian Competition Bureau to approve a merger to monopoly. The Maple deal lessens and prevents competition.
"It will foreclose any new effective entry in the equities trading market for any listing venue," Ms Lally said.In addition to hydraulics fittings and Aion Kinah,
The LSE is understood to have the backing of enough of its own big institutional shareholders to secure a "yes" vote at the TMX meeting.
But TMX has a large retail shareholder register and the outcome of its side of the vote is far less predictable.
There has been speculation the LSE and TMX could delay their shareholder votes to give them more time to bring investors around, but the LSE insisted that voting will go ahead as planned on June 30.
It is understood that the Dubai Government, one of the biggest shareholders in the LSE with a 20 per cent stake,we supply all kinds of oil painting reproduction, will vote in favour of the tie-up.
But Dubai has lost millions on its investment in the LSE and has made clear privately that its stake is for sale.
It is thought that Dubai's sovereign wealth fund would step up the sale process quickly if LSE's bid for TMX failed.Houston-based Quicksilver Resources said Friday it had reached pipeline deals
Maple went hostile with its bid this week. In a direct approach to shareholders, the group is offering $C48 per share in cash for 70 per cent of shares in TMX.
Maple claims that its $C3.7bn ($3.6) offer is superior to the $US3.5bn ($3.3) deal agreed between the LSE and TMX because it is based upon expanding the Canadian group's business rather than stripping out costs.
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