MX and TSX announce effective date of May 1, 2008 and election deadline of April 29, 2008

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[{"type":"text","content":"\n\n\n\nMONTREAL and TORONTO, April 18 /CNW Telbec/ - Montreal Exchange Inc. (MX)\nand TSX Group Inc. (TSX Group) today announced that the effective date of\ntheir proposed combination will be May 1, 2008. This is subject to all\ncustomary closing conditions and follows the receipt of all required\napprovals.\n\n\nHow to elect cash or shares\n\n\n---------------------------\n\n\nMX shareholders holding share certificates that wish to make an election\nwith respect to the consideration to be received under the amalgamation must\ndeliver a completed transmittal and election form to CIBC Mellon Trust Company\n(CIBC Mellon) by 5:00 p.m., Montreal time, on April 29, 2008. MX shareholders\nholding shares through a broker, investment dealer, bank, trust company or\nother intermediary may have an earlier election deadline imposed by the\nintermediary to ensure that timely instructions are given to CIBC Mellon.\nThese MX shareholders should contact their broker or other intermediary and\ncarefully review any materials they receive from them to determine the\napplicable election deadline and how to give appropriate and timely election\ninstructions.\n\n\nConsideration\n\n\n-------------\n\n\nPursuant to the terms of the amalgamation agreement, MX shareholders are\nentitled to elect to receive either 0.7784 of a common share of TSX Group or\n$39.00 in cash, without interest, for each MX common share, subject to\npro-ration as provided in the amalgamation agreement. MX shareholders who do\nnot make a timely election by 5:00 p.m. on April 29, 2008 will be deemed to\nhave elected the cash alternative, subject to pro-ration.\n\n\nThe amalgamation agreement provides that the maximum number of TSX Group\ncommon shares issuable to MX shareholders under the amalgamation is\n15,346,000, and the maximum amount of cash payable to MX shareholders under\nthe amalgamation is $428.2 million. If the aggregate number of TSX Group\ncommon shares that would otherwise be issuable to MX shareholders who elect\nthe share alternative exceeds the maximum share consideration, such MX\nshareholders will receive a reduced pro-rata number of TSX Group common shares\nwith the balance of the consideration owing being paid in cash. If the\naggregate cash consideration that would otherwise be payable to MX\nshareholders who elect (or are deemed to have elected) the cash ...

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