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 ASX chair David Gonski likely to become deputy chair.

A well-placed source tells AsianInvestor that the report in The Australian is accurate.           ...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222