Maple says it aims to extend TMX takeover bid

TORONTO, April 27 Fri Apr 27, 2012 2:18pm EDT

TORONTO, April 27 (Reuters) - A consortium bidding for TMX Group said on Friday it aims to extend its $3.8 billion bid for Canada's biggest stock exchange operator beyond Monday's deadline, but it could not yet assure that it would do so as it works through regulatory hurdles that long delayed the deal.

Maple Group, comprised of 13 Canadian financial institutions, said Canada's Competition Bureau and the Ontario Securities Commission have informed it that they are coordinating their reviews of the proposed takeover.

Shares of TMX rose about 6 percent to C$45.26 on the Toronto Stock Exchange soon after Maple's statement.

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