The vice chairman of National Bank Financial had to make a decision, in the mid-March 2011, as to what price to advocate to his Maple consortium partners for the TMX Group Incorporation. The TMX was the owner along with operator of the leading cash and derivatives exchanges in Canada.
The vice-chairman was leading a consortium of Canadian banks that was scheduling an unsolicited bid in rejoinder to merger talks between the TMX as well as the London Stock Exchange Group. The case allows for a discussion of mergers and acquisitions and the factor following amalgamation waves, the machinists of a hostile bid for a publicly listed firm, the changing landscape for stock and derivative exchanges, the valuation of a target company, as well as the differentiation between strategic and fiscal buyers.
An Excel spreadsheet for students is available.
The Maple Acquisition of the TMX Group Inc. case study solution
PUBLICATION DATE: November 01, 2013 PRODUCT #: W13465-HCB-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
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