Maple Renamed TMX Group Limited
Maple Group was formally renamed TMX Group Limited on Friday. In accordance with the terms of Maple's acquisition offer, Maple has acquired 80 percent of the outstanding TMX Group shares, and the remaining TMX Group shares deposited under the Maple offer but not acquired by Maple will be returned to TMX Group shareholders.
"Our shareholders have overwhelmingly supported the transaction," says Tom Kloet, CEO of Maple and TMX Group. "Work is underway to identify and achieve synergies as well as to chart a path forward for the combined enterprise that serves all participants and clients across Canada and worldwide. A successful integration with tight operational execution combined with innovative product and solution development are our foremost priorities."
Maple has received conditional approval to list its shares on Toronto Stock Exchange following completion of the subsequent arrangement.
On July 31, 2012, Maple announced that all of the conditions of its offer to acquire TMX Group were satisfied and took up all shares deposited under the offer at that time. In addition, a new Board was appointed for Maple, TMX Group and its principal operating subsidiaries. On August 1, 2012, Maple announced the completion of the acquisitions by Maple of the Canadian Depository for Securities Limited and of Alpha Trading Systems Inc. and Alpha Trading Systems Limited Partnership (collectively, "Alpha"). As a result of these acquisitions, CDS and Alpha have become wholly-owned subsidiaries of Maple.
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