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London Stock Exchange, Canada’s TMX Gain on Takeover

London Stock Exchange Group Plc and TMX Group Inc. rallied after LSE agreed to buy the owner of the Toronto Stock Exchange for about $3.2 billion in stock. The shares pared gains after NYSE Euronext said it’s in merger talks with Deutsche Boerse AG.

LSE climbed 3.1 percent to 920 pence at the 4:30 p.m. close in London, the highest level since October 2009, as some investors speculated that the agreement may spur competitors to make rival bids. TMX jumped 6.4 percent to C$42.85, the highest since June 2008.