SYDNEY: Australia rejected the Singapore stock exchange's $8.3 billion takeover bid for the Australian stock market operator on Friday, with the federal treasurer saying the merger would not be in the nation's interest.
The decision was expected, with Treasurer Wayne Swan signaling earlier in the week that Australia was planning to scuttle Singapore's cash and shares offer for the Australian Securities Exchange Ltd., known as ASX. The proposal, announced in October, would have created one of Asia's leading stock markets.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
