Maple Group Acquisition Corporation has officially been renamed TMX Group Limited.
The Montreal exchange announced the expiry of the deposit extension period in respect to Maple’s offer today, and approximately 95.4% of the outstanding shares have been deposited under the offer, up from 91% during the finalization of the offer.
Shares not acquired by Maple will be returned to TMX Group shareholders, and exchanged for its shares on a one-for-one basis.
“Our shareholders have overwhelmingly supported the transaction,” says Tom Kloet, CEO of Maple and TMX Group.
Approximately 87% of outstanding TMX shares were deposited under the full deposit election, and approximately 8% were deposited under the minimum deposit election.
Since more than 80% were deposited under the full deposit option, the number of shares to be acquired for $50 cash will be as follows: approximately 92% have been acquired for $50, with the remaining 8% being returned to shareholders.
A registered TMX Group shareholder that deposited 1000 shares under the full deposit option, for example, will receive $45,850 in cash, as well as have 83 units returned and transferred.
Shareholders should expect to receive cash payment during the week of August 13, 2012.
TMX Group Limited has received conditional approval to list its shares on Toronto Stock Exchange following completion of this arrangement.