The London Stock Exchange is to buy the owner of the Toronto Stock Exchange in an all share deal to create a major center for trading in mining shares if likely political opposition in Canada can be overcome.
LSE shareholders will end up owning 55 percent of the combined group, the companies said on Wednesday.
Shareholders in TMX Group will receive 2.9963 LSE shares for each TMX share, creating a group that based on their current share prices will have a combined market capitalization of 4.3 billion pounds ($6.9 billion).
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