SGX and ASX agree $8.2 billion merger

The proposed merger of two of Asia's leading bourses will create the fifth largest exchange in the world.

Australia’s ASX Limited and Singapore Exchange SGX said yesterday in a joint statement that they will merge. The announcement followed news leaked on Friday last week that a deal was imminent.

Magnus Böcker, SGX’s chief executive, seems to be the driving force behind the transaction, which is made up of a mixture of cash and scrip, according to bankers. It will create the second biggest stock exchange in Asia behind Hong Kong Exchanges Clearing HKEx, and...

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