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TMX Group board backs Maple Group takeover plan

Canadian exchange operator TMX Group said late Sunday that it would back a $3.8bn takeover plan pushed by Maple Group's bank-led consortium

The board of Canadian exchange operator TMX Group late Sunday said it would back a $3.8bn takeover plan pushed by a bank-led consortium, which will make the company stronger by adding new businesses, according to a statement from the firm.

TMX's board unanimously recommended that shareholders accept the offer from the Maple consortium, which still faces a stiff review by Canadian regulators.

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