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UPDATE 2-LSE and TMX fix date for merger vote
May 25, 2011 / 4:28 PM / 7 years ago

UPDATE 2-LSE and TMX fix date for merger vote

* Exchanges set June 30 for key shareholder vote on merger

* TMX decision came after approval from Ontario court

(Adds LSE detail)

By Euan Rocha and Luke Jeffs

TORONTO/LONDON, May 25 (Reuters) - Merger partners LSE (LSE.L) and TMX Group (X.TO) have set the dates for their shareholders to vote on their $3 billion combination.

The British exchange and the Canadian market said in separate statements on Wednesday they would hold their general meetings for shareholders to vote on the merger on June 30.

The TMX statement came after the Ontario Superior Court of Justice issued an interim order that allowed TMX to proceed with a shareholder meeting to vote on its proposed tie-up with the UK exchange.

TMX, operator of the Toronto Stock Exchange, last week rejected a C$3.6 billion (US$3.7 billion) takeover bid from a group of Canadian banks and pension funds.

The Toronto-based exchange operator says it still supports a US$3 billion friendly offer to join forces with the London Stock Exchange that was put forward in February. The combination would form a transatlantic entity for trading stocks, derivatives and other financial assets. ($1=$0.98 Canadian) (Editing by Jon Loades-Carter)

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