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Maple Group Extends Offer to Buy TMX Group

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Maple Group Acquisition Corporation is comprised of thirteen Canadian financial institutions and pension funds. The collection of investors has extended their offer to acquire a minimum of 70% and a maximum of 80% of TMX Group shares in concert of an integrated deal. The total valued transaction at 100% shares is $3.8 billion. The offer is being extended till September 30, 2011. Maple Group Acquisition Corporation is confident it will pass Canadian regulatory hurdles.

If the deal goes through, Maple Group Acquisition Corporation wants to maintain the exchange’s presence in Canada and create operational efficiencies through technology.

Maple Group is the last man standing in terms of buying out TMX, as the London Stock Exchange did not garner enough TMX shareholder approval.  TMX Group has performed well recently. In the first calendar quarter of 2011, it had a profit margin of 36.2% based in USD. NYSE Euronext’s profit margin in the same time period was 14.07%.

  • About Maple Group Acquisition Corporation
  • Alberta Investment Management Corporation
  • Caisse de dépôt et placement du Québec
  • Canada Pension Plan Investment Board
  • CIBC World Markets Inc.
  • Desjardins Financial Group
  • Dundee Capital Markets Inc.
  • Fonds de solidarité des travailleurs du Québec (F.T.Q.)
  • GMP Capital Inc.
  • National Bank Financial Inc.
  • Ontario Teachers’ Pension Plan
  • Scotia Capital Inc.
  • TD Securities Inc.
  • The Manufacturers Life Insurance Company

SWFI First Read, July 19, 2018

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GIC Eyes Provenance Land

GIC Private Limited is nearing a deal to purchase up to 50% of Provenance Land. Provenance Land owns India’s first Four Seasons hotel.

Eduard van Gelderen Leaves UC Regents for PSP Investments CIO Role

Eduard van Gelderen exited his position as Senior Managing Director at the University of California Regents’ Office of the Chief Investment Officer. His role will not be replaced. He accepted an offer to be Chief Investment Officer of the Public Sector Pension Investment Board (PSP Investments).

PAAMCO Prisma Holdings CEOs to Exit

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Google Fined Big Time by EU Regarding Antitrust Violations

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The European Union (EU), through its competition commissioner, levied a €4.34 billion fine against Alphabet Inc., the owner of Google. The fine is over Google having “imposed illegal restrictions on Android device manufacturers and mobile network operators to cement its dominant position in general internet search,” according to the European Commission (EC).

The European Commission is requiring Alphabet to cease from its conduct that it is accused of within 90 days or face penalty payments of up to 5% of the average daily worldwide turnover of Alphabet, Google’s parent company.

Commissioner Margrethe Vestager, in charge of competition policy, said in a press release, “Today, mobile internet makes up more than half of global internet traffic. It has changed the lives of millions of Europeans. Our case is about three types of restrictions that Google has imposed on Android device manufacturers and network operators to ensure that traffic on Android devices goes to the Google search engine. In this way, Google has used Android as a vehicle to cement the dominance of its search engine. These practices have denied rivals the chance to innovate and compete on the merits. They have denied European consumers the benefits of effective competition in the important mobile sphere. This is illegal under EU antitrust rules.”

The EC press release added, “In particular, Google: 1. has required manufacturers to pre-install the Google Search app and browser app (Chrome), as a condition for licensing Google’s app store (the Play Store); 2. made payments to certain large manufacturers and mobile network operators on condition that they exclusively pre-installed the Google Search app on their devices; and 3. has prevented manufacturers wishing to pre-install Google apps from selling even a single smart mobile device running on alternative versions of Android that were not approved by Google (so-called “Android forks”).”

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Mubadala, RCIF and UFC Agree to Form UFC Russia Joint Venture

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Endeavor (formerly WME | IMG) is taking its UFC brand into Russia. Endeavor is financially-backed by investors such as Silver Lake Partners, CPPIB, KKR and Singapore’s GIC Private Limited. The global talent agency company inked a deal with the Russia-China Investment Fund, Mubadala Investment Company (UAE) to form a platform to focus on the development and expansion of UFC’s mixed martial arts (MMA) business in Russia and CIS countries. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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