TMX Group Inc., owner of the Toronto Stock Exchange, should seek takeovers of global competitors such as CBOE Holdings Inc. after its C$3.73 billion ($3.68 billion) sale to a Canadian investor group cleared its biggest regulatory hurdles, investor Thomas Caldwell said.
CI Financial Corp. Executive Chairman William Holland, whose firm is the largest shareholder of TMX Group Inc., endorsed London Stock Exchange Group Plc’s C$3.3 billion ($3.35 billion) takeover offer for the Toronto Stock Exchange owner.
Jeffrey Sprecher, who built the second-largest U.S. futures market, will likely focus on reducing costs after acquiring NYSE Euronext even if that means separating the 220-year-old New York Stock Exchange.
For CME Group Inc. to improve the exchange industry’s worst profit outlook, the owner of the Chicago Mercantile Exchange needs only to look across the street to CBOE Holdings Inc., home of the biggest U.S. options market.
A group of Canada’s biggest banks and pension funds made an unsolicited C$3.6 billion ($3.7 billion) bid for TMX Group Inc. to keep the country’s main stock exchange in Canadian hands while sacrificing global growth from a planned merger with the London Stock Exchange.