RR Phantom
Location : Wasted Space Job/hobbies : Cayman Islands Actuary
| Subject: Singapore's stock exchange poised to acquire the ASX Mon Oct 25, 2010 2:19 am | |
| Singapore's stock exchange is poised to offer a premium of up to 40 per cent to acquire the Australian Securities Exchange, valuing the Australian bourse operator at about $8.5 billion, in a move to create an Asian trading hub.
Talks between the ASX and its Singapore counterpart continued late last night as boards of both companies were thrashing out a deal aimed at winning over local investors and, significantly, Canberra.
Details of the proposal will be revealed at noon, eastern daylight time in both Sydney and Singapore. Advertisement: Story continues below
Amid expectations that the Singapore Exchange could emerge with the bulk of the merged entity, local stockbrokers have warned against Australia losing control of its capital markets.
ANCAPS: ANARCHO-CAPITALISTS |
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