The London Stock Exchange dismissed the threat of a hostile counter offer for TMX Group from consortium Maple Group as incomplete and unlikely to pass muster.
LSE chief executive Xavier Rolet said on Thursday Maple's $3.6-billion bid failed to address questions about its funding and regulatory issues.
"Maple's is a highly dubious construction where billion-dollar questions remain unanswered," Rolet said. He said he remained optimistic about his own lower, agreed $3-billion deal.
TMX and LSE investors will vote on the deal on June 30.
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