SGX, Baltic Exchange extend exclusive talks to Aug 31
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
THE Singapore Exchange (SGX) and potential acquisition target Baltic Exchange have extended exclusive negotiations to Aug 31 from June 30 to continue "dialogue" with shareholders.
"SGX and the Baltic Exchange have together met with shareholders and much of the stakeholder community over the past weeks to discuss the transaction and have made good progress in consultations," SGX said in a statement. "The extension to the period of exclusivity allows this dialogue to continue before the final terms of the transaction are agreed."
The exclusive negotiation period was agreed upon on May 25 to discuss a cash offer for all of the Baltic Exchange, a data provider whose products are used for global shipping rates and for trading freight derivatives. No pricing has been disclosed, but the Baltic Exchange has been speculated to be worth around US$100 million.
Other bidders that have been reported to have been interested in acquiring the Baltic Exchange include the London Metal Exchange, CME Group, ICE, China Merchants Group and Platts.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
Aiming at China, Malaysia puts new restrictions on electric cars
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
Vietnam formalises new state leadership, redefining ‘four pillars’ power balance
