The Maple Group has cleared its last major regulatory hurdles in its takeover of Canada's main stock exchange operator, TMX Group.
The B.C. and Alberta securities regulators signed off on the deal yesterday.
The deal has already been approved by regulators in Ontario and Quebec, as well as the federal Competition Bureau.
Maple Group — a consortium of some 12 Canadian pension funds, banks and insurers — still needs the blessing from TMX shareholders.
Those shareholders will have the final say on whether the deal is approved and have until July 31st to tender their shares.
Maple's takeover offer values the TMX Group at about $3.8 billion.
The deal follows more than a year of turmoil at TMX which first proposed a merger with the operator of the London Stock Exchange that failed to win shareholder support.
Related Stories
