LSE, TMX Eye ‘Opportunities Elsewhere' after Abandoning Merger

To secure the merger, the LSE required a 50 percent vote of approval from its shareholders, which it successfully achieved. However, LSE and TMX officials said today that the exchanges believe the merger is highly unlikely to achieve the required two-thirds majority approval at TMX's shareholder meeting tomorrow, June 30, and that therefore TMX will not put the deal to a shareholder vote.

The news comes two days after TMX and LSE held an analyst call reiterating their management's support for