Jun 12, 2026
After the bell TMX Group (X) announced its $683M acquisition of RAFI Indices, representing a 13x EBITDA multiple - or 10x excluding $135M of tax benefits…
… supporting management’s expectation for year one EPS accretion. The transaction adds nearly $90M of run-rate revenue to the company’s VettaFi segment…
… which should support debt reduction post-close, with pro-forma leverage climbing to 2.7x including the recent $409M CBOE acquisition.
Looks good on paper, market should like it.
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