Reuters: Regulatory News: UPDATE 1-Maple bid for TMX wins shareholder approval -source

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UPDATE 1-Maple bid for TMX wins shareholder approval -source Aug 1st 2012, 00:17 Tue Jul 31, 2012 8:17pm EDT TORONTO, July 31 (Reuters) - The $3.8 billion takeover of Canadian stock market operator TMX Group by a group of financial institutions has been approved by shareholders, according to a source familiar with the situation. The approval effectively clinches a deal that puts all of the country's major securities exchanges under the control of Maple Group -- a consortium of some of Canada's largest banks, pension funds and insurers. The takeover will create a new entity that combines the Toronto Stock Exchange with its biggest rival, Alpha, and with the Canadian Depository for Securities, which clears and settles all stock trades in Canada. The C$50-a-share deal received final regulatory approvals a few weeks ago, clearing the way for the deal's final go-ahead. TMX agreed to back Maple's bid last October, after initially rejecting an unsolicited offer that the banks and their partners put together to scupper a friendly deal that was struck earlier with the London Stock Exchange. Maple Group touted its proposal as the best way to keep Canadian exchanges out of foreign hands, having unveiled the deal amid a wave of foreign firms launching bids for global rivals in the exchanges sector.

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