David Lester , a London Stock Exchange Group Plc executive who met with Canadian government officials yesterday, said he doesn’t expect Industry Minister Christian Paradis to endorse or reject his company’s deal to buy TMX Group Inc. until after shareholders vote on June 30.
Former Turquoise Chief Executive Officer Eli Lederman , who exited the alternative trading system after its purchase by London Stock Exchange Group Plc , is suing for unfair dismissal, saying restrictions he faced after leaving were “unwarranted.”
London Stock Exchange Group Plc agreed to buy the 50 percent of FTSE International Ltd. it doesn’t already own from Pearson Plc for 450 million pounds ($702 million) in cash as it seeks to expand in derivatives.
London Stock Exchange Group Plc won’t contest whether Eli Lederman , the former chief executive officer of Turquoise , was unfairly dismissed while disputing the rest of the claims in the employment case.
Maple Group Acquisition Corp., the group of nine Canadian pension funds and banks that offered to buy TMX Group Inc., said more time should be given for shareholders to consider their unsolicited proposal.
London Stock Exchange Group Plc and the Canadian banks and pension funds battling for control of TMX Group Inc. need to sweeten their bids because the competing cash and stock offers are too similar, investors said.
London Stock Exchange Group Plc ’s yearlong attempt to switch securities to a faster new trading system hit its third delay with the bourse blaming a “suspicious” glitch that briefly shut down its Turquoise platform yesterday.