Reuters: Regulatory News: UPDATE 1-TMX Group profit falls on acquisition charge

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UPDATE 1-TMX Group profit falls on acquisition charge Jul 27th 2012, 10:25 Fri Jul 27, 2012 6:25am EDT July 27 (Reuters) - TMX Group Inc, operator of the Toronto Stock Exchange, reported a sharp fall in second-quarter profit ahead of its C$3.8 billion ($3.76 billion) takeover by the Maple Group consortium. Net income fell 97 percent to C$1.8 million, or 2 Canadian cents per share, from C$54.7 million, or 73 Canadian cents per share, a year earlier, largely due to a C$54.4 million charge related to the proposed acquisition by Maple. Revenue fell 1 percent to C$167.5 million. In addition to the Toronto exchange, the company owns the TSX Venture Exchange for small-capitalization stocks and the Montreal Exchange derivatives market. The 12-member Maple Group Acquisition Corp recently won approvals from provincial regulators and the federal Competition Bureau to take over TMX. Maple will put TMX and its biggest domestic rival, Alpha Group, under the same umbrella as well as clearing house Canadian Depository for Securities Ltd. This week, TMX said the Maple transaction is proceeding and urged shareholders to tender their shares ahead of the July 31 bid deadline. TMX shares closed at C$49.48 on Thursday on the Toronto Stock Exchange.

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