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Bloomberg News, sent from my Android phone

Oct. 24 (Bloomberg) — Singapore Exchange Ltd. plans to offer about A$8.4 billion ($8.2 billion) in cash and stock to buy ASX Ltd., which runs the Australian stock exchange, two people familiar with the matter said.

The operator of Singapore’s exchange will bid A$48 per ASX share and pay 55 percent of the deal in stock and the remainder in cash, the people said, asking not to be identified before an announcement scheduled for Monday. Shareholders of ASX will receive A$22 cash for each share they hold, they said.

The combination would be the first between two exchange operators in the Asia-Pacific region and will create the area’s first pan-regional stock exchange. The takeover would bolster the global competitiveness of the Singaporean and Australian bourses by lowering costs, allowing new products and increasing the scale of their operations, one of the people said.

After the transaction, the new holding company’s shares will be primarily listed in Singapore with its depository receipts listed in Australia, the people said. Investors will receive 3 1/2 Singapore Exchange shares for each ASX share, one of the people said.

The offer price represents about a 37 percent premium to the last closing price of ASX in Sydney. Trading in shares of both companies was halted on Friday.

Matthew Gibbs, an ASX spokesman, and Magdalyn Liew, a spokeswoman for Singapore Exchange, each declined to comment.

To contact the reporter on this story: Cathy Chan in Hong Kong at kchan14@bloomberg.net

To contact the editor responsible for this story: Philip Lagerkranser at lagerkranser@bloomberg.net

Find out more about Bloomberg for Android: http://m.bloomberg.com/android

Your brand of wax strips!

Here's my Buzz profile if you're interested to follow me:

I've been trying it out for the past 2 days and I'm really excited about it. Haven't been as excited about a software since Posterous came along.

Met Tom while I was buying duck rice. He asked for directions so I helped him out. He rode 17k miles through central Europe to Turkey to Central Asia to China to Laos to Singapore which was his last stop. Talking to him about his adventure really made my day!

Found them in KL! Hahaha

My first time
Eating it
It was delicious!



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  • bigsurf: yeah it's really cool.. well i guess you can also come to Singapore as there's a big cosplay thing going on here too!
  • Lasitha Silva: I also like to have a snap with a Star wars character. And I think..I need to be at Tokyo for that. Coz I love to be there too.
  • Mr WordPress: Hi, this is a comment.To delete a comment, just log in, and view the posts' comments, there you will have the option to edit or delete them.

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