TMX Group and the London Stock Exchange (LSE) are scrapping their merger agreement. TMX’s board will now review the firm’s opportunities, including an offer from Maple Group Acquisition.

TMX Group will pay a $10 million expense fee to LSE. It will also pay a further $29 million fee in case, within 12 months, either the acquisition proposal made by Maple is completed or if TMX signs a deal in respect of the acquisition proposal and the agreement are later consummated.

Click here for the release from TMX Group.