Canadian Exchange merger |
Date: Monday, September 3, 2007
Author: New York Times
Investors push for Canadian exchange merger:
Major shareholders in the TSX Group, the parent of the Toronto Stock Exchange, and its rival, the Montreal Exchange have mobilised to push for a merger between the companies, a deal the two exchanges have discussed but so far failed to reach.
The Globe and Mail reported that about 10 investors, some known for activism, convened on a conference call on Thursday to consider ways to pressure the two companies to combine.
The exchanges have publicly trod increasingly separate paths this year, but in private, The Glob and Mail said, there have been high-level talks in recent months, with top officials at the two companies going so far as to discuss who would run a combined company and who would be chairman.
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