Canada Competition Bureau says OSC rules may allay TMX concerns

Thu May 3, 2012 10:58am EDT
 
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OTTAWA (Reuters) - Canada's Competition Bureau signaled on Thursday that its concerns over Maple Group's C$3.8 billion ($3.84 billion) takeover bid for Toronto Stock Exchange operator TMX Group (X.TO: Quote) may be allayed by the Ontario Securities Commission's (OSC's) draft rules for allowing the deal to go ahead.

"It is possible that the OSC's recognition orders could materially change the regulatory environment such that, if enforced, our serious concerns may be substantially mitigated," bureau spokeswoman Gabrielle Tasse said after the OSC published its proposed orders, or draft rules.

"We will complete our own review, and this will include seeking industry reaction to any recognition orders."

($1=$0.99 Canadian)

(Reporting by Randall Palmer)