Bloomberg News

Tokyo-Osaka Merger Terms ’Fair,’ Require No Changes, Saito Says

February 28, 2012

Feb. 28 (Bloomberg) -- The terms of Tokyo Stock Exchange Group Inc.’s bid for Osaka Securities Exchange Co. are appropriate and there is no need for revision, Atsushi Saito, president of the Tokyo bourse, said at a regular press conference today.

”The merger ratio was agreed between both companies based on the valuations calculated with financial advisers and the ratio is fair,” Saito said. “We think the merger terms are fair and transparent.”

Shareholders of the Osaka exchange are pushing for more favorable terms, the Financial Times reported on Feb. 13.

--Editors: Jim Powell, Nick Gentle

To contact the reporter on this story: Masaaki Iwamoto in Tokyo at

To contact the editor responsible for this story: Nick Gentle at

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