TMX Group and the London Stock Exchange (LSE) have introduced a special cash dividend to be paid on closing of their proposed merger. TMX shareholders will get £2.56 per TMX Group share and LSE shareholders will receive 84.1 pence per ordinary share as per the sweetened merger proposal. The total amount of the special dividend may be nearly £416 million.

The LSE-TMX offer has now been increased to £31.4 per TMX share, as compared to the offer made by rival Maple Acquisition, which offered cash and shares worth £30.7, adds Financial Times. After the merger, existing LSE shareholders will hold a 55% stake in the new entity and Xavier Rolet, the LSE’s CEO, will head the combined group.

Click here for the release from TMX Group.

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