Baltic Exchange shareholders accept SGX offer

SINGAPORE Exchange (SGX) on Monday said that shareholders of The Baltic Exchange have voted in favour of the proposed £77.6 million (S$137 million) acquisition by SGX.

"We are very pleased at the outcome of the vote, and thank Baltic's shareholders for their strong support. We now look forward to completing the transaction and realising the growth opportunities as we bring together two important maritime centres," said SGX chief executive officer Loh Boon Chye.

There are other conditions to be met before the scheme of arrangement can go through. Among other things, the UK's Financial Conduct Authority must approve of the change of control of Baltic Exchange Derivatives Trading Limited, the regulated entity of the Baltic Exchange.