Toronto, London Stock Exchange abort merger plans

Reuters

TORONTO (Reuters) - The London and Toronto stock exchanges abandoned plans for a C$3.6 billion merger on Wednesday, as it became clear they would not win enough shareholder support for their transatlantic alliance.

"It is clear that the two-thirds threshold required to approve the merger would not have been achieved," Toronto Stock Exchange operator TMX Group said in a statement.

Continue Reading Below

The London Stock Exchange would have owned 55 percent of the new venture, designed as a powerhouse in resource and energy equity.

(Reporting by Pav Jordan; editing by Janet Guttsman)