On 9 February 2011, TMX Group Inc., the operator of the Toronto Stock Exchange and the Toronto Venture Exchange, and London Stock Exchange Group plc announced that they had agreed a £4.3 billion all-share merger of equals to combine Europe’s and Canada’s leading diversified exchange groups.
The proposed merger would create the world’s #1 listings venue:
- By number of total listings (over 6,700 companies with an aggregate market capitalisation of approximately £3.7 trillion)
- For SMEs, with approximately 3,600 combined AIM and TSX-V listings
- For natural resources, mining, energy and clean technology companies.
The transaction is subject to shareholder, regulatory and Ontario court approval.
Jonathan Deverill, a corporate partner at DMH Stallard who has wide experience in acting for London-Toronto dual listed companies commented,
“This merger should help efforts to make life easier for companies which have, or are contemplating, a dual listing on both the London and Toronto stock exchanges. In particular, I think this will help junior resources companies on both sides of the Pond.”