LSE hits back after Maple bid for TMX

The London Stock Exchange has hit back at an attempt by Canadian rivals to scupper its bid to merge with TMX Group.London Stock Exchange Group reaffirmed its commitment to press on with the deal after Maple Group Acquisition, a consortium of Canadian banks and pension funds, announced a C$3.6bn ($3.7bn) cash and equity offer for the Canadian exchange. In an official statement LSEG said: “The proposal from Maple is not a formal offer for TMX and accordingly there is no certainty that such an offer will be forthcoming.”The Maple consortium - including several banks which have declared an opposition to the LSE deal, said it will pay C$48 per share offer trumps that offered by the LSE - which has offered to pay C$3bn for the combined equity and derivatives exchange, agreed by both boards back in February. The...