A takeover of the Baltic Exchange by the Singapore Stock Exchange has moved a step closer after it received the backing of major shareholders.
The SGX offer, which values the historic exchange at approximately £87m (SGD $153m), has secured “irrevocable undertakings” of support from 74% of Baltic shareholders, a statement said.
The deal will now go forward to a vote of all Baltic shareholders practically guaranteed of success given it needs 75% overall support.
Loh
