SGX poised to launch ASX takeover bid

The Singapore Exchange is expected to make a full takeover bid for the Australian Securities Exchange.

The Singapore Exchange is reportedly ready to make a full takeover bid for the Australian Securities Exchange after the stocks of both companies went into a trading halt on Friday, according to The Australian newspaper.

SGX has a market value of around S$10 billion $7.8 billion, versus $6.2 billion for the ASX.

According to the report, final details are still being worked out, but it is likely SGX will provide the chairman and chief executive, with...

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