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 'Thanks' to statists, Singapore finally walks from ASX bid

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RR Phantom

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'Thanks' to statists, Singapore finally walks from ASX bid Vide
PostSubject: 'Thanks' to statists, Singapore finally walks from ASX bid   'Thanks' to statists, Singapore finally walks from ASX bid Icon_minitimeFri Apr 08, 2011 4:23 am
Singapore Exchange has finally walked away from its proposed $8 billion bid for Australian Stock Exchange Ltd, after the Gillard Government formally knocked back the takeover.

Treasurer Wayne Swan said he rejected the proposed cross border exchange merger arguing it was not in the national interest.

Singapore's Temasek reject influence claims over SGX

“In these circumstances the parties have agreed to terminate the Merger Implementation Agreement entered into on 25 October 2010,” ASX said in a statement.

The Australian exchange operator said it was now focused on finding a successor to chief executive Robert Elstone, who has signalled his intention to retire in July.

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