Montreal Exchange shareholders OK TSX merger

Shareholders of the Montreal Exchange today approved by a 99.6% margin the proposed takeover of the Canadian derivatives market by TSX Group, the parent of the equity-trading Toronto Stock Exchange. “We’re happy our shareholders cast a vote of confidence in the future,” Luc Bertrand, Montreal Exchange CEO, said after the results were announced at a special shareholders’ meeting. Market regulators in Quebec will hold public hearings on the C$1.13 billion (US$1.13 billion) proposed cash-and-stock deal, March 26-27. The C$143 billion Caisse de Depot et Placement du Quebec, Montreal, had expressed support for the deal before the vote.