Go Finance Reporting London - The London Stock Exchange (UK) and the Toronto Stock Exchange (Canada) have agreed to merge, and create a transatlantic group that will dominate the sector, raw materials and energy sectors.
As quoted by AFP on Wednesday (02/09/2011), the merger is expected to form a new securities exchange is the reference world. This was a recommendation from the head of the London Stock Exchange (LSE) and TMX Group Inc. which will based in London and Toronto.
Merger stock exchange authorities is not the first time. Previously, the Singapore Exchange (SGX) superbly merger with Australian Stock Exchange (ASX) for trade in the Asia Pacific region increasingly strong and powerful that can compete with their rivals Hong Kong and Shanghai.
Merger bid price offered by SGX to ASX for $ 8, 2 billion. Bids submitted for the ASX was $ 48 Australian dollars per share, price premium of 40 percent from the last traded price.
Merger of two stock allows global customers to list their stocks, trading, clearing, and creating opportunities in the Asia Pacific region to promote global economic growth.
Merger of two exchanges in the Asia-Pacific can make them become the fifth largest stock market in the world that aim to beat their competitors namely Hong Kong and Shanghai exchanges. (GoFinance)
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