Tuesday, February 22, 2011
SGX: Breaking its long silence on the proposed SGX-ASX deal, Tokyo Stock Exchange's President Saito commented that SGX's bid for ASX is unusually high & unfavourable as it will dilute its 4.99% stake in SGX. Throwing a brick at the SGX offer, it added the transaction was designed to convince ASX holders. Views Deutsche Boerse bid price for NYSE as more logical. This lack of support by a significant stakeholder raises the bar even higher for SGX to push through its takeover of ASX.