Maple Group wins control of TMX Group with 91% of shares tendered
TORONTO — Maple Group Acquisition Corp. has won control of TMX Group Inc. (TSX:X), with 91 per cent of shares tendered to its takeover offer worth about $3.8 billion.
A new Maple board of directors has already been appointed.
Chuck Winograd will serve as the chair of both the Maple and TMX Group boards, while TMX CEO Tom Kloet will take on the role at both Maple and TMX.
The offer to acquire a minimum of 70 per cent of TMX shares of TMX Group for $50 in cash per share closed at 5 p.m. today.
But the deadline for tender has been extended until Aug 10. for any shareholders who were holding out and want to receive cash for their shares.
Shareholders still have to formally vote to accept the deal at a meeting slated for September.
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