By Jonathan Saul LONDON, Oct 19 (Reuters) - Britain's Financial Conduct Authority (FCA) has approved Singapore Exchange's 87 million pound ($107 million) takeover of London's Baltic Exchange after shareholders gave the green light for the deal last month, the Baltic said on Wednesday. The acquisition is one of the latest developments in a string of mergers, bidding wars … [Read more...]
Baltic Exchange Succumbs to Succumbs to Singapore as Shipping Turmoil Deepens
By Jonathan Saul LONDON, Sept 27 (Reuters) - The crisis in global shipping and a tax exodus by big Greek vessel owners have helped finally seal the fate of London's Baltic Exchange after at least three approaches to buy it over the last six years of its near-three centuries history. Some 95 percent of shareholders voted on Monday in favour of a takeover deal from … [Read more...]
Baltic Exchange Shareholders Approve Takeover
By Jonathan Saul LONDON, Sept 26 (Reuters) - Baltic Exchange shareholders approved on Monday an 87 million pound ($112 million) takeover by Singapore Exchange for one of London's oldest institutions, in a deal giving SGX access to the multi-billion-dollar freight derivatives market. As the global shipping industry struggles with poor market conditions, SGX offered - after … [Read more...]
Baltic Exchange Board Backs Takeover Bid
by Aradhana Aravindan (Reuters) The Baltic Exchange board has unanimously backed a takeover bid from Singapore Exchange Ltd, a deal that will give SGX access to a trading platform for the multibillion-dollar freight derivatives market. The exchanges have agreed on the terms of the SGX offer, they said in a joint statement on Monday, with Baltic shareholders … [Read more...]
SGX to Baltic Exchange Shareholders: Take the Deal
By Jonathan Saul and Anshuman Daga LONDON/SINGAPORE, Aug 4 (Reuters) - Singapore Exchange Ltd (SGX) plans to buy one of London's oldest institutions, the Baltic Exchange where shipping rates are published, and urged shareholders on Thursday to support a deal. As the global shipping industry struggles with the worst market conditions for decades, SGX offered shareholders … [Read more...]