LTMX, We Hardly Knew Ye

toronto

The merger is dead! Long live the independent Toronto Stock Exchange—at least for now.

It was announced earlier today that the London Stock Exchange's (LSE's) C$3.6 billion ($3.7 billion) bid to nab the TMX Group, parent of the Toronto Stock Exchange (TSX), would not go forward after a proxy vote revealed the deal would not attain two-thirds' shareholder support.

As of a couple weeks ago, the analysts and insiders I was speaking with all said that they expected the merger to go through, and that