Most Ontario executives back LSE bid forTMX-survey

* 52 pct of executives support LSE/TMX deal

* Vast majority see positive to no impact from deal

* Winners: mining industry, investors, TSX-listed firms

TORONTO, April 4 (Reuters) – A majority of Ontario business
executives back the proposed C$3 billion ($3.1 billion) deal
between TMX Group (X.TO: Quote, Profile, Research) and the London Stock Exchange (LSE.L: Quote, Profile, Research),
according to a survey commissioned by the TSX operator.

Fifty-two percent of the executives, all with companies
listed on the Toronto Stock Exchange or the TSX Venture
Exchange, strongly or somewhat supported the takeover versus 38
percent of executives who somewhat or strongly opposed it.

Ten percent had no opinion.

The survey comes amid debate over whether the deal would
hurt Toronto’s status as a financial center and harm Canadian
businesses, with some of the country’s biggest banks coming out
against the deal.

The TMX Group’s survey of 111 executives, conducted between
March 14 and March 31 by research firm The Gandalf Group, also
found that most executives were not following the developments
of the deal closely and only found it of some interest.

It said 82 percent of executives either saw a positive
impact or little to no impact on their business from the
tie-up, while 18 percent said the deal would have a negative
impact on their company.

The vast majority also believed it would either make it
easier for their company to raise capital, or have no impact.

The executives expected the biggest winners to be the
mining industry, Canadian investors and companies listed on the
TSX, Canada’s primary stock exchange.

Criticism of the takeover has also come from some
politicians, partly on fears that Canada will lose influence in
a global market. Some of that criticism has softened recently.
[ID:nN01300671] [ID:nN31179709] [ID:nN28206463]

The Ontario government is to release a report later this
week on its recommendations, while the Ontario Securities
Commission, Quebec securities regulators and the federal
government also have roles in the approval process.
($1=$0.97 Canadian)
(Reporting by Solarina Ho; editing by Janet Guttsman)

Most Ontario executives back LSE bid forTMX-survey