The Montreal and Toronto exchanges announced a $1.3-billion merger on Monday that will see the country's two largest exchanges become one. The new organization - to be known as TMX Group - will be managed from Toronto, but the trading of financial derivatives products will stay in Montreal. In the stock and cash deal, Montreal Exchange shareholders would receive half a share of TSX Group and $13.95 in cash for each of their shares. That values each share of the Montreal Exchange at $42.56, based on Friday's closing price for TSX shares. On Monday, shares of the Montreal Exchange rose more than eight per cent to close at $40.18. TSX Group shares declined more than five per cent to $53.88. "The combination is an important milestone in the development of the Canadian capital markets, delivering benefits to all market participants and the shareholders of both organizations," TSX Group CEO Richard Nesbitt said in a release. "We believe that an integrated national...
The apparent lack of a pan-European approach to the financial crisis hit shares sharply in afternoon trade. The FTSEurofirst 300 was down over 7 percent, the lowest level in four years and things...
Lawmakers may have authorized the U.S. Treasury to spend up to $700 billion to buy bad mortgage loans - but Wall Street is still on edge. For the first time in 5-years the Dow Jones blue chip...
Shaw Communications Inc. and a group headed by Yak parent Globalive Communications Corp. were the two most aggressive new players in the first day of a government auction of wireless airwaves that...
After more than two decades in the international banking doldrums, Japan is back. Japan's Nomura has agreed to buy Lehman Brothers' equities and investment banking business in Europe and the...
After more than two decades in the international banking doldrums, Japan is back. Japan's Nomura Holdings is to pay up to $525 million for Lehman's Asia Pacific franchise and is front-runner to...
TiVo, the popular U.S. television-recording device, is finally arriving in Canada in early December. - The TiVo set-top device, which allows viewers to record shows and skip commercials,...
Japan's top mobile phone player, NTT docomo, is looking for overseas acquisitions amid tough competition at home. New CEO Ryuji Yamada says a recent 30% stake in a Bangladesh carrier is just the...
Asia stocks largely gained on Thursday with investors gaining confidence following solid business spending data out of the United States. Japan's Nikkei rose 3 percent (14,124) its best daily gain...
Asia stocks ended the week on a high note with investors soothed by signs of bigger than expected economic growth figures in the United States. Exporters such as Toyota were among the top gainers....
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