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 Singapore's stock exchange poised to acquire the ASX

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RR Phantom

RR Phantom

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Singapore's stock exchange poised to acquire the ASX Vide
PostSubject: Singapore's stock exchange poised to acquire the ASX   Singapore's stock exchange poised to acquire the ASX Icon_minitimeMon 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.
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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.

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