LONDON (AFP) – The London Stock Exchange is "disappointed" at the collapse Wednesday of a plan to merge with the Toronto Stock Exchange, LSE chief executive Xavier Rolet said in a statement.
The deal to merge the LSE and TMX Group, owner of the Toronto exchange, collapsed as it had not expected to win the support of two thirds of shareholders required for approval at a meeting due Thursday, the pair said in a statement.
"We are clearly disappointed," Rolet said. "We believe the merger would have been a unique opportunity for TMX Group shareholders to be partners in a truly international group, co-located in Toronto and London, focussed on growth and opportunity."
"Whilst the merger with TMX Group was an exciting opportunity... we continue to see other significant growth opportunities across our well-positioned capital markets, information services, technology and post trade businesses," Rolet added.