(March 22) – “The Toronto Stock Exchange plans to make an offer to buy the Canadian Venture Exchange,” writes Barry Critchley in today’s National Post.

“The TSE board of directors will meet Tuesday to approve an offer to buy the junior exchange for about $50-million, sources say.”

“Another source said board members of the CDNX, as the Western exchange is known, will discuss the proposal at a meeting on Wednesday.”

“Last night CDNX board members would not discuss the nature of the talks. They cited a confidentiality agreement signed before formal negotiations began.”

“If the deal takes place, almost all stock trading in Canada will go through the Toronto exchange.”

“The CDNX opened for trading on Nov. 29, 1999, after a merger between the Vancouver Stock Exchange and the Calgary-based Alberta Stock Exchange. The Winnipeg Stock Exchange joined last November.”

“As part of the national realignment of stock exchanges, the CDNX became the venue for trading in junior or start-up companies. The Toronto exchange emerged as Canada’s senior equities market, meaning that it trades stock in the country’s largest companies.”

“Combining the two markets ‘should be better for issuers and investors given that it should cost less to run the system,’ said a source. ‘There will be synergies.’ “