05 Apr '11, 6am

(Yahoo Sg) Australia rejects Singapore exchange takeover bid: Singapore's stock exchange says Austr... #Singapore

Singapore's stock exchange says Australia's government has rejected a proposed takeover offer of the country's bourse. Singapore Exchange Ltd. said Tuesday in a statement that Australian Treasurer Wayne Swan believes the merger with Australian Securities Exchange Ltd. would be contrary to his nation's interest. SGX said it will continue to pursue other strategic growth opportunities including further talks with ASX on other forms of cooperation. SGX made a $8.3 billion cash and shares takeover offer for ASX in October in a bid to become a leading Asian finance center.

Full article: http://sg.news.yahoo.com/australia-rejects-singapore-exch...

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