TSX-LSE Merger
The owners of the London and Toronto stock exchanges have agreed a "merger of equals". In a statement this morning, the London Stock Exchange Group plc (LSE) and TMX Group Inc announced an agreement to combine Europe's and Canada's leading diversified exchange groups in an all-share merger.
The enlarged group would be the largest in the world in terms of the number of listings, and the leading listings venue for natural resources, mining and energy companies. The two companies also claim to be the market leader in high-performance, cost-effective cash and derivatives trading technology.
The deal has been unanimously recommended by the boards of both LSE and TMX, and markets responded positively by marking the two companies' share prices higher.
The combined transatlantic group (jointly headquartered in London and Toronto) will have over 6,700 listed companies, with an aggregate market capitalisation of approximately £3,700 billion (C$5,800 billion).
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