TORONTO (Reuters) - The London Stock Exchange has sweetened its friendly offer for the TMX Group with an enhanced dividend, bringing the value to $4.1 billion for the operator of the Toronto Stock Exchange.
LSE has added a cash component to its bid. TMX shareholders will get a C$4 dividend per share, while LSE shareholders will receive 84.1 pence per ordinary share, sweetening the bid by C$660 million ($680 million).
Continue Reading Below
TMX also formally rejected a competing bid by Maple Group Acquisition Corp, a Canadian consortium of banks, pension funds and investment firms that is appealing to nationalism as it seeks control of the TMX, the world's largest concentration of mining and energy equity.
The Maple offer also includes a cash component.
TMX said Maple failed to provide any more clarity or proof their offer would lead to a superior price.
TMX said it has not changed the date of a shareholder meeting to vote on the LSE bid, which is set for June 30. The LSE and TMX say they will create a transatlantic partnership with a strong position in mining and resource firms.
(Reporting by Andrea Hopkins; editing by Janet Guttsman)