February 21, 2012 / 7:10 AM / in 6 years

Osaka exchange says no change to TSE merger terms

OSAKA, Japan, Feb 21 (Reuters) - The head of the Osaka Securities Exchange said he had no plans to alter its merger agreement with the Tokyo Stock Exchange.

His comments follow a media report that some investors want the Osaka exchange to seek better terms.

“We will not change the tender offer price or merger terms,” Michio Yoneda, chief executive officer of the OSE, told a regular briefing.

The OSE and TSE agreed in November to merge to create the world’s third-biggest bourse with listed stocks worth around $3.6 trillion, in a bid to build scale to cope with a weak home market and compete with a flurry of global tie-ups.

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