* TMX's Tom Kloet to be CEO of new combined entity
* CDS, Alpha acquisitions expected to close Aug 1
* New entity to be renamed TMX Group Ltd
* TMX shares rise in early trading on TSX
TORONTO, July 12 (Reuters) - Tom Kloet, chief executive of TMX Group Inc, will stay on as head of the enlarged Canadian exchange operator that's formed when a consortium of financial institutions completes its takeover of TMX in August.
Kloet, who initially opposed Maple Group Acquisition Corp's C$3.8 billion ($3.72 billion) bid to acquire TMX, will become chief executive of Maple, to be renamed TMX Group Ltd after the deal closes, Maple said in a statement on Thursday.
The deal, which will bring the Toronto Stock Exchange and Canada's other major exchanges and related businesses under the same umbrella, cleared its final regulatory hurdles on Wednesday.
Maple, composed of top Canadian banks, pension funds and other institutions, has set a July 31 deadline for shareholders to tender their shares. The deal requires at least 70 percent of TMX's shares to be deposited in favor of the offer.
Maple's acquisition of TMX could set the stage for the company to expand its international presence. The deal will give TMX the financial heft and backing it would needs to achieve that goal.
The approvals on Thursday came soon after news that TMX was in talks to buy U.S. stock market operator Direct Edge Holdings LLC.
Shares of TMX rose 16 Canadian cents to C$49.01 early on Thursday, just shy of Maple's C$50-a-share offer price.
If all conditions are met by July 31, a new board will be appointed for Maple and a mirror board will be appointed for TMX Group, in keeping with the commitments made to provincial securities regulators, the companies said.
The new entity that combines the Toronto Stock Exchange with its biggest rival, Alpha, and with the Canadian Depository for Securities, which clears and settles all stock trades in Canada.
Maple expects to complete the proposed acquisitions of Alpha and CDS on August 1.